Annual depreciation expense on a building purchased a few years ago (using the straight-line method) is $5,200. The cost of the building was $104,000. The current book value of the equipment (January 1, 2021) is $88,400. At the time of purchase, the asset was estimated to have a zero salvage value. On January 1, 2021, the company decided to reduce the original useful life by 25% and to establish a salvage value of $5,200. The firm also decided double-declining-balance depreciation was more appropriate. Ignore tax effects. Required: 1. Prepare the journal entry, if any, to report the accounting change under GAAP. 2. Record the annual depreciation for 2021.

Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a passive investment in a limited partnership, and a $26,000 passive loss from a real estate rental activity in which she actively participates. if her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible

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Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money. msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach