A knick-knack purchased in 1998 was worth $14.15 in 2007 and
$7.85 in 2012.
Assume that its value,
A knick-knack purchased in 1998 was worth $14.15 in 2007 and $7.85 in 2012. Assume that its value,
Troy (single) purchased a home in Hopkinton, MA, on January 1, 2007, for $215,000. He sold the home on January 1, 2014, for $242,900. How much gain must Troy recognize on his home sale in each of the following alternative situations? a. Troy rented the home out from January 1, 2007, through November 30, 2008. He lived in the home as his principal residence from December 1, 2008, through the date of sale. Assume accumulated depreciation on the home at...
A laptop computer is purchased for $3900. Each year, its value is 70% of its value the year before. After how many years will the laptop computer be worth $400 or less? Write the smallest possible whole number answer.
An automobile purchased for $29 000 is worth $1800 after 8years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?
2002 179.880 2012 229.594 1972 41.800 96.500 Year CPI 1982 1992 140.300 2 parents purchased their home in 1972 for $14,500 and its value kept up with inflation. What is the value of their home in 2012?
Olivares Company purchased a building for $7,500,000 in 2012. In December 2019, the appraiser assessed its value at 59,900,000. What amount should be reflected in the building account in 2019? a. 59,900,000 b. 55,550,000 c. $7,500,000 d. $2,400,000 e. Fair value at measurement date (balance sheet date) QUESTION 32 The following account balances are for Hilton Company in 20X1 Sales Rent Expense Ending Inventory Cost of Goods Sold 995,000 75,000 635,000 475,000 What if the amount of Gross Profit? a....
Depreciation Handout Excel Company purchased a delivery van on January 1, 2012 for $33,000. Management has estimated that equipment will have a useful life of five years or 100,000 hours. At the end of five years, management believes that equipment will be worth $3,000. The actual miles the van was driven is as follows: 2012 2013 2014 2015 2016 22,000 miles 24,000 miles 15,000 miles 20,000 miles 21,000 miles Straight line Depreciation Cost - Residual Value Years (Depreciable Cost) Year...
1.Bennett purchased a tract of land for $20,000 in 2012 when he heard that a new highway was going to be constructed through the property and the land would soon be worth $200,000. The highway project was abandoned in 2018 and the value of the land fell to $15,000. Bennett can claim a loss in 2018 of: a.$180,000 b.$5,000 c.$0 d.$165,000 e.None of these choices are correct. 2.The qualified business income deduction is a percentage of wages earned by an...
AKL Machine Works purchased a stamping machine for $135,000 on January 1, 2012. The machine is expected to have a useful life of 5 years, salvage value of $12,000 and total production life of 250,000 units. During 2012 and 2013, AKL used the stamping machine to produce 23,450 units in each of the years. A depreciation schedule is a table that calculates an assets depreciation expense annual, beginning book value, ending book value for each year of its useful life....
A computer purchased for $750 loses 11% of its value every year. The computer's value can be modeled by the function v(t) = 2.6', where v is the dollar value and t the number of years since purchase. (A) In the exponential model a = and b (B) In how many years will the computer be worth half its original value? Round answer to 1 decimal place. The answer is years
A computer purchased for $750 loses 11% of its value every year. The computer's value can be modeled by the function v(t) = a · b', where v is the dollar value and t the number of years since purchase. (A) In the exponential model a = and b = (B) In how many years will the computer be worth half its original value? Round answer to 1 decimal place. The answer is years