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please help me to resolve this problem which have part a,b, c, d ..thanks I hope theae pictures are better . than...
FURNITURE (5,378) AND MACHINERY (6,682) ARE CORRECT. PLEASE HELP ME THE REST At the beginning of...
FURNITURE (5,378) AND MACHINERY (6,682) ARE CORRECT. PLEASE HELP
ME THE REST
At the beginning of its 2018 tax year, Hiram owned the following business assets: Date Placed Initial Accumulated Recovery Depreciatiorn in Service Furniture Equipment Machinery 6/19/16 5/2/15 9/30/15 Cost 30,750 70,000 58,000 DepreciationPeriod Convention 7-year Half-year 5-year Half-year 5-year Half-year $11,925 49,840 41,296 On July 8, Hiram sold its equipment. On August 18, it purchased and placed in service new tools costing $589,000; these tools are three-year recovery...
Please help me in Part C, show the result to understand the part (thanks) 11-51 A...
Please help me in Part C, show the result to understand the part
(thanks)
11-51 A computer costs $3500 and its salvage value in 5 years is negligible. What is the book value after 3 years? If the machine is sold for $1500 in Year 5, how much gain or recaptured depreciation is there? Assume (a) Straight-line depreciation (b) Double declining balance depreciation (c) 20% bonus depreciation with the balance using 5-year MACRS
how to do depreciation? Can you please give me one example of this of where putting the stuff at and i can do the rest. I am very confuse. V Assets Acquired in 2017 (This section may be helpful...
how to do depreciation? Can you please give me one example of
this of where putting the stuff at and i can do the rest. I am very
confuse.
V Assets Acquired in 2017 (This section may be helpful to fill out by hand first) Wolf P. purchased the following assets, all placed in service on 01/01/2017. Wolf P Inc. has elected out of Bonus Depreciation. Asset Cost New Kitchen Equipment Furniture Computers and software $350,000 $35,000 $12,000 $24,000 Food...
Question 20 of 75. In January 2009. Julius purchased for $110,000 a rental house which he...
Question 20 of 75. In January 2009. Julius purchased for $110,000 a rental house which he immediately placed in service. The purchase price included $10,000 for the land. In August of 2018, he decided to sell the house to the tenant. How much depreciation may he deduct in 2018? O $1,364 O $2,273 O $3,485 O $3,636 Mark for follow up Question 35 of 75. Raul purchased a new office computer system on February 15, 2017, at a cost of...
Casper used the following assets in his Schedule C trade or business in the tax year...
Casper used the following assets in his Schedule C trade or
business in the tax year 2018. Casper is a new client and
unfortunately does not have a copy of his prior year's tax return.
He recalls that all of the assets purchased in prior years used
MACRS depreciation (no §179 expense or bonus). Casper does not wish
to take §179 or bonus depreciation. (Use Table 6A-1 and Table 6A-8)
Calculate the current year depreciation allowance for Casper’s
business. (Round...
Please help me out :) Problem 9-4A a-b (Part Level Submission) Carla Vista Ca. purchased equipment...
Please help me out :)
Problem 9-4A a-b (Part Level Submission) Carla Vista Ca. purchased equipment on March 27, 2018, at a cost of $224,000. Management is contemplating the marits of using the diminishing balance or units of production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products...
someone please help me with this revision outline. ao i can prepare well for the upcoming exam Problem - Adjusting...
someone please help me with this revision outline. ao i can
prepare well for the upcoming exam
Problem - Adjusting Entries (15 points) The following information for CLH Company is available on June 30, 2018, the end of a monthly accounting period. You are to prepare the necessary adjusting journal entries for CLH Company for the month of January for each situation given. Aporopriate adjusting entries had been recorded in previous months. You may omit journal entry explanations. 1. Lance...
If it is too complicated，please just help me to answer required 4,5,6.thanks a lot. Serial Problem...
If
it is too complicated，please just help me to answer required
4,5,6.thanks a lot.
Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. Credit $ Debit 39, 064 13, 418 2,645 2,040 3. 120 8,000 No. 101 106 126 128 131 163...
Q2 /please Answer part (B (2) Double-diminishing-balance method ) I have all answers I need only...
Q2 /please Answer part (B (2) Double-diminishing-balance method ) I have all answers I need only part 2 for all years Pharoah Limited purchased a machine on account on April 2, 2018, at an invoice price of $356,620. On April 4, it paid $2,130 for delivery of the machine. A one-year, $3,970 insurance policy on the machine was purchased on April 5. On April 18, Pharoah paid $7,590 for installation and testing of the machine. The machine was ready for...
Part I Classify each of the following expenditures related to the purchase of a new computing...
Part I Classify each of the following expenditures related to the purchase of a new computing system of Solar Company as capital expenditure or revenue expenditure: (a) Purchase price, net of sales discount, of the computing system (b) Sales tax paid in conjunction with the purchase of the computing system (c) Insurance expense for delivery of the computing system (d) Interest charges on a note payable issued by Solar Company for part of the purchase price of the computing system...
FURNITURE (5,378) AND MACHINERY (6,682) ARE CORRECT. PLEASE HELP
ME THE REST
At the beginning of its 2018 tax year, Hiram owned the following business assets: Date Placed Initial Accumulated Recovery Depreciatiorn in Service Furniture Equipment Machinery 6/19/16 5/2/15 9/30/15 Cost 30,750 70,000 58,000 DepreciationPeriod Convention 7-year Half-year 5-year Half-year 5-year Half-year $11,925 49,840 41,296 On July 8, Hiram sold its equipment. On August 18, it purchased and placed in service new tools costing $589,000; these tools are three-year recovery...
Please help me in Part C, show the result to understand the part
(thanks)
11-51 A computer costs $3500 and its salvage value in 5 years is negligible. What is the book value after 3 years? If the machine is sold for $1500 in Year 5, how much gain or recaptured depreciation is there? Assume (a) Straight-line depreciation (b) Double declining balance depreciation (c) 20% bonus depreciation with the balance using 5-year MACRS
how to do depreciation? Can you please give me one example of
this of where putting the stuff at and i can do the rest. I am very
confuse.
V Assets Acquired in 2017 (This section may be helpful to fill out by hand first) Wolf P. purchased the following assets, all placed in service on 01/01/2017. Wolf P Inc. has elected out of Bonus Depreciation. Asset Cost New Kitchen Equipment Furniture Computers and software $350,000 $35,000 $12,000 $24,000 Food...
Question 20 of 75. In January 2009. Julius purchased for $110,000 a rental house which he immediately placed in service. The purchase price included $10,000 for the land. In August of 2018, he decided to sell the house to the tenant. How much depreciation may he deduct in 2018? O $1,364 O $2,273 O $3,485 O $3,636 Mark for follow up Question 35 of 75. Raul purchased a new office computer system on February 15, 2017, at a cost of...
Casper used the following assets in his Schedule C trade or
business in the tax year 2018. Casper is a new client and
unfortunately does not have a copy of his prior year's tax return.
He recalls that all of the assets purchased in prior years used
MACRS depreciation (no §179 expense or bonus). Casper does not wish
to take §179 or bonus depreciation. (Use Table 6A-1 and Table 6A-8)
Calculate the current year depreciation allowance for Casper’s
business. (Round...
Please help me out :)
Problem 9-4A a-b (Part Level Submission) Carla Vista Ca. purchased equipment on March 27, 2018, at a cost of $224,000. Management is contemplating the marits of using the diminishing balance or units of production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products...
someone please help me with this revision outline. ao i can
prepare well for the upcoming exam
Problem - Adjusting Entries (15 points) The following information for CLH Company is available on June 30, 2018, the end of a monthly accounting period. You are to prepare the necessary adjusting journal entries for CLH Company for the month of January for each situation given. Aporopriate adjusting entries had been recorded in previous months. You may omit journal entry explanations. 1. Lance...
If
it is too complicated，please just help me to answer required
4,5,6.thanks a lot.
Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. Credit $ Debit 39, 064 13, 418 2,645 2,040 3. 120 8,000 No. 101 106 126 128 131 163...
Part I Classify each of the following expenditures related to the purchase of a new computing system of Solar Company as capital expenditure or revenue expenditure: (a) Purchase price, net of sales discount, of the computing system (b) Sales tax paid in conjunction with the purchase of the computing system (c) Insurance expense for delivery of the computing system (d) Interest charges on a note payable issued by Solar Company for part of the purchase price of the computing system...
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