At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year:
Date Cost
Asset Acquired Basis
Computer equipment 3/23 $5,000
Dog grooming furniture 5/12 7,000
Pickup truck 9/17 10,000
Commercial building 10/11 270,000
Land (one acre) 10/11 80,000
Assuming Poplock does not elect §179 expensing or bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answers to the nearest whole dollar amount.)
a. What is Poplock’s year 1 depreciation expense for each asset? (Leave no answer blank. Enter zero if applicable.)
b. What is Poplock’s year 2 depreciation expense for each asset? (Leave no answer blank. Enter zero if applicable.)
Answers
Answer: See attachment
Explanation:
a. What is Poplock’s year 1 depreciation expense for each asset?
See attachment. Note that the depreciation for the assets were calculated as the original basis × the rate. e.g for Computer equipment, the Depreciation was, the original basis of $5000 × the rate of 20% which equals $1,000.
b. What is Poplock’s year 2 depreciation expense for each asset?
Check attachment.
Depreciation for computer = $1600
Depreciation for day grooming furniture = $1714
Depreciation for popup truck = $3200
Depreciation for commercial building = $6923
Related Questions
Nigel and Sylvia are married and live in California. On August 31 of 2019, they split up and filed for divorce with no intentions of reconciling. Nigel earned $4,000 each month of 2019 and Sylvia earned $2,000 a month from June through the end of the year. A joint bank account paid them interest of $200 each month. They will file MFS. How much will Sylvia report on her tax return?
a. $7,000
b. $8,200
c. $28,200
d. $32,200
Answers
Answer:
Sylvia will report $28,200 on her tax return.
Option C) $28,200 is the correct Answer
Explanation:
Given the data in the question;
Combined Income = ( 4,000 × 8 ) + ( 2000 × 3) = 32,000 + 6,000 = 38,000
Sylvia Separate Income = ( 2000 × 4 ) + ( 200 × 12/2) = 8000 + 1200 = 9,200
Now, the Income that Sylvia will report is;
⇒ (38,000 / 2) + 9200
= 19,000 + 9,200
= 28,200
Therefore Sylvia will report $28,200 on her tax return.
Option C) $28,200 is the correct Answer
Arvilla wonders if she needs to apply for a tax identification (ID) number as a freelance writing consultant. She took the steps to identify an available business name and then registered it in her state. Arvilla has not yet determined if she will use her own social security number or apply online for a free employer identification number (EIN) or tax ID number. What type of business ownership may NOT be required to obtain a tax ID number?
A. Corporation
B. Sole proprietorship
C. Partnership
D. Limited liability company
Answers
It may not be necessary for sole proprietorship business owners to obtain a tax ID number.
Which of the following claims concerning sole proprietorships is accurate?Response and justification It is true that a sole proprietorship's owner is personally liable for all of the business' debts. A sole proprietorship enables one person to do business but does not separate the company from the owner.
Does a sole proprietorship have to have it?No, it is not necessary to register as a single proprietor. It is totally up to the individual whether they choose to register their sole proprietorship or not. It is not necessary by law, even if banks could ask for sole proprietorship registration if you wish to open a bank account in your business's name.
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As a student of Business Ethics and a managing director of a multinational company, discuss five (5) factors
you will consider in managing the multi-cultural and diversified workforce in Ghanaian business organizations.
Answers
Some factors to consider when managing a multicultural and diverse workforce are:
CommunicationEthicConflict managementLearningInclusionHow to manage a multicultural team?It is essential that there are a series of policies and procedures that focus on organizational ethics, creating a culture that promotes diversity and individual values. The manager must be attentive to the needs of the teams, promoting learning and the inclusion of employees in organizational processes.
Therefore, a diverse culture can be beneficial for the exchange of experiences, learning and innovation.
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observant real life story examples
Answers
Answer:
real life story real life stories is a story that mean in real life
What is the best gift for a newborn baby?
Answers
Answer:
cotton socks , baby blanket , wet wipes , clothing , etc
A successful data-driven market segmentation program depends on each of the following except:
a.
the rejection of tradiitional marketing research techniques
b.
the use of transactional and event data
c.
a common definition of market segments across all areas of the business
d.
developing a centralized and accessible CRM (Customer Relationship Management) database
Answers
A successful data-driven market segmentation program depends on the "use of transactional and event data", "a common definition of market segments", "and the development of a centralized CRM database" but it does not depend on "the rejection of tradiitional marketing research techniques".
The correct option to the given question is option a.
Traditional marketing research techniques, such as surveys, focus groups, and interviews, have long been used to gather insights about consumer behavior and preferences. While these techniques may have limitations, they still play a valuable role in understanding customer motivations and attitudes. Data-driven market segmentation programs can benefit from a combination of both traditional and data-driven research approaches. The use of transactional and event data is crucial for a data-driven market segmentation program. This type of data provides valuable information about customer behaviors, purchase patterns, and interactions with the business.
Having a common definition of market segments across all areas of the business ensures consistency and alignment in marketing efforts. This allows for targeted and personalized messaging that resonates with each segment. It also facilitates coordination between different departments, such as marketing, sales, and customer service, leading to a more cohesive and effective customer experience.
Finally, developing a centralized and accessible CRM database is essential for managing and analyzing customer data. It enables the integration of data from various sources, such as transactions, interactions, and demographic information, into a single platform. This centralized database provides a comprehensive view of customers, enabling more accurate segmentation and personalized marketing initiatives.
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What would the cost of goods sold be if the cost of goods available for sale totaled $650 and the ending inventory total? $86.
564.00
546.00
5.46
50.64
Answers
Answer:
4
Explanation:
i need points for my test
The following are correct statements related to the Marginal Cost concepts,
EXCEPT:
a. Marginal Cost is the extra cost incurred by adding one extra unit of production.
b. Marginal Cost is always higher than Average Cost.
c. Marginal Cost initially declines and eventually increases as more units as
produced.
d. Total Cost at certain level of production is the aggregation of Marginal Cost
values for the units produced.
Answers
Option (b), which states that marginal cost is always more than average cost, is the correct choice.
Is the gap between average and marginal costs always smaller?Marginal cost is lower than average cost when typical cost is falling as output rises. Marginal cost is higher than average cost when average cost is growing. Marginal cost is equal to average cost when average cost is neither increasing nor decreasing (at a minimum or maximum).
The marginal cost is lower than the average cost as the average cost drops. The marginal cost is higher than the average cost when the average cost rises. The marginal cost is equal to the average cost when the average cost remains constant (at a minimum or maximum).
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WHAT IS Segmentation,
Answers
Answer:
Segmentation is to divide something into separate parts or sections
What event had an enormous effect on US workplace safety
Answers
Answer:
I believe your answer would be D, a deadly factory fire.
Hope this helped!
Draw an earned value chart for the end of the fi rst week (5 days) assuming the time proportionality rule for the project illustrated in the following network diagram given the following costs and percentage completions:
Answers
Under project network diagram where the related costs and percentage completion stages are defined already with an assumption of time proportionately rule earned value chart can be drawn.
What is Earned Value Chart?A management technique to show the evolution of earned value metrics through using an value flow chart. Typically, the chart comprises lines for earned value, which is a gauge of how much progress has been accomplished, budget (planned project cost), and actual cost (planned project cost).
Formula for computing the Earned Value from the chart:
E⇒ Earned Value = Task Budget x Percent complete (actual)
Therefore for drawing the earned value chart one must know about the time proportionality rule of given project, costs and percentage completion stages from a network diagram.
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Prepare a comparative income statement for any company extracting their P&L statement for the years 2020-21 & 2021-22. Analyse the incline and decline in the different elements in the P&L Statement and provide detailed insights.
Answers
Answer:
this is my own answer
Explanation:
hi
How to Prepare a Comparative Income Statement?
Step 1: Specify absolute figures of items like goods sold, net sales, selling expenses, etc., relating to the accounting period under consideration for analysis.
Step 2: Calculate the absolute change in the items mentioned in the income statement.
Show all steps of your work. Only writing the final answer is not enough.
Question 1: Consider a good that has an existing demand curve given by Q = 44 – 6p and an existing
supply curve given by Q = 12 + 2p. Suppose there is a change in the demand curve and the new
demand curve is given by Q = 32 – 8p. There is no change in the supply curve.
a) Is the new demand curve a parallel shift from the existing demand curve? Briefly explain your answer.
b) Does the new demand curve lie on the right or left of the existing demand curve? Briefly explain your answer.
c) Determine the existing equilibrium price and quantity before the change in the demand curve.
d) Determine the new equilibrium price and quantity after the change in the demand curve.
Answers
The demand and supply curve give the quantity demanded and supplied at a given price
a) The new demand curve is not parallel to the existing demand curveb) The new demand curve lay on the left of the existing demand curvec) Before the change in the demand curve, the equilibrium price is 4 and the equilibrium quantity is 20d) After the change in the demand curve, the equilibrium price is 2 and the equilibrium quantity is 16Reason:
Question 1:
Existing demand curve function is Q\(_d\) = 44 - 6·p
Existing supply curve function is Q\(_s\) = 12 + 2·p
New demand curve function is Q\(_{new \, d}\) = 32 - 8·p
No change in supply curve
a) The slope of the demand curve is given by the coefficient of p
Two demand curves are parallel if their slopes are equal or the same
The coefficient of p, of the existing demand curve, (-6) is not the same as the coefficient of p, in the new demand curve, (-8), therefore, the slopes are different, and the new demand curve is not parallel to the old demand curve
b) The y-value of the y-intercept of the existing demand curve is 44
The y-value of the y-intercept of the new demand curve is 32
The x-value of the x-intercept of the existing demand curve is \(p = \frac{44}{6} = 7.\overline 3\)
x-value of the x-intercept of the new demand curve is \(p = \frac{32}{8} = 4\)
The y, and x-intercepts of the new demand curve are lower than those of the existing demand curve, therefore;
The new demand curve lie on the left of the existing demand curvec) The equilibrium price before the change in the demand curve is given by the solution of the existing demand and supply curve as follows;
At equilibrium, we have;
Q\(_d\) = Q\(_s\)
Therefore;
44 - 6·p = 12 + 2·p
44 - 12 = 2·p + 6·p
32 = 8·p
\(p = \dfrac{32}{8} = 4\)
The equilibrium price, p = 4
The equilibrium quantity is 44 - 6 × 4 = 12 + 2 × 4 = 20
The equilibrium quantity = 20
d) The new equilibrium price is given as follows;
Q\(_s\) = Q\(_{new \, d}\)
We have;
12 + 2·p = 32 - 8·p
2·p + 8·p = 10·p = 32 - 12 = 20
\(p = \dfrac{20}{2} = 2\)
p = 2
The equilibrium price, p = 2
The equilibrium quantity = 12 + 2× 2 = 16
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Establishing a secure customer or client base is an example of how to deal with this type of risk.
compliance risk
operational risk
strategic risk
financial risk
Answers
Estate has an ROI of 16% based on revenues of $400,000. the residual income is $14,000 and the investment turnover is 2. what is the hurdle rate? With Explanation
Answers
If Estate has an ROI of 16% based on revenues of $400,000. the residual income is $14,000 and the investment turnover is 2. The hurdle rate is 9%.
How to find hurdle rate?First step is to find the investment turnover using this formula
Investment turnover=Sales/invested capital
Investment turnover = ($14,000 / $400,000) × 2
Investment turnover = 0.035 × 2
Investment turnover =0.07
Second step is to find the hurdle rate using this formula
Hurdle rate = ROI - Investment turnover
Hurdle rate = 0.16 - 0.07
Hurdle rate = 0.09× 100
Hurdle rate = 9%
Therefore the hurdle rate is 9%.
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A business owner in England signs a 15% discount note for 30,000 English pounds (30,000) with a bank in London. If the proceeds are £28,835, 16, find the time of the note in days
Answers
Answer:
30,000 x 0.15 = 4,500
28,835 - 4,500 = 24,335
24,335 / 30,000 = 0.8115 The time of the note is 81.15 days.
Explanation:
follow
Answer:
The discount amount of the note is 30,000 * 15% = 4,500 pounds.
So, the net proceeds from the note are 30,000 - 4,500 = 25,500 pounds.
Since the net proceeds from the note are actually 28,835.16 pounds, the time of the note can be calculated as follows:
(28,835.16 - 25,500) ÷ (4,500 ÷ 365 days) = X days
Where X is the time of the note in days.
Solving for X, we get X = approximately 71 days.
Explanation:
Gillie, Norma and Nancy are all partners in an architectural firm. They have no partnership agreement. Gillie contributed $120,000 to the firm and Norma and Nancy contributed $60,000 each. Norma works full-time in the partnership and Gillie and Nancy each work part-time. The partnership makes $120,000 in profits. How will the profits be divided among the partners
Answers
Answer:
Gillie: $40,000
Norma $40,000
Nancy: $40,000
Explanation:
Calculation for How will the profits be divided among the partners
Based on the information given the profit will be divided equally among the three of them.
Gillie profit=$120,000/3
Gillie profit=$40,000
Norma profit =$120,000/3
Norma profit =$40,000
Nancy profit=$120,000/3
Nancy profit=$40,000
Therefore How will the profits be divided among the partners is :Gillie: $40,000
Norma $40,000
Nancy: $40,000
Which of the following is NOT a step in the basic selling process?
make a connection
recite product features
personalize service
assess needs
Answers
From the options given recite product features is not a step in the basic selling process
What is the basic selling process about?The series of steps a salesperson takes to find and approach prospects, give a sales presentation, address objections, and close a sale is known as the selling process
Prospecting, planning, approaching, presenting, addressing objections, closing, and following up are often involved in the process .The technique may be applied to the majority of selling scenarios, including non-product selling.
The objective is to persuade the consumer that the product or service can satisfy their demand and to establish long-term customer relationships.
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What is E-Procurement? [2 Marks] 1b. What are the Benefits of E-Procurement? [8 Marks] 2. You have have been appointed as an ICT personnel in an organisation mit
Answers
E-procurement is the exchange of goods and services between businesses, consumers, and the government over the Internet and other information and networking platforms including enterprise resource planning and electronic data interchange.
benefits of the electronic procurement procedure.
E-procurement helps you save money by avoiding duplicative purchases, taking advantage of volume discounts, and avoiding expenses related to paper-based systems (for example, the cost of stamps to mail your paperwork).Openness in spending By performing your procurement electronically, you can guarantee that your procurement methods follow your policies because it will be simpler to produce and analyze reports on your procurement systems.Greater Productivity E-procurement takes less time than conventional procurement once you've gotten the hang of the technology. Reusable tender submission is made simpler by having your records maintained online. Meanwhile, using templates allows for quicker completion of papers.To know more about E-procurement refer to: https://brainly.com/question/17214482
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Julie is 25 years old and living in an apartment. She is thinking about quitting her job and returning
to college. Consider the following costs: tuition, the cost of books and supplies and rent.
Rent is
A. not a cost associated with college
B. an explicit cost of attending college
C. an implicit cost of attending college
Answers
Answer:
Explanation:
Julie is 25 years old and living in an apartment. She is thinking about quitting her job and returning
to college. Consider the following costs: tuition, the cost of books and supplies and rent.
Rent is
A. not a cost associated with college
B. an explicit cost of attending college
C. an implicit cost of attending college
Rent, in Julie's situation, is categorized as an implicit cost of attending college. It represents the opportunity cost of using the money spent on rent for other potential uses, such as education-related expenses or foregone job opportunities.
Rent is considered an implicit cost of attending college in this scenario. Implicit costs are the opportunity costs associated with using a resource for a particular purpose, rather than its next best alternative use. In Julie's case, the rent she pays for her apartment would be an implicit cost if she decides to quit her job and return to college.
This is because the money she spends on rent could have been used for other purposes, such as paying for tuition, books, and supplies, or forgoing the job opportunity she is giving up by leaving her job.
Hence, The correct answer is C. an implicit cost of attending college.
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At what percentage of credit card usage, does it start affecting your score in a negative way?
Answers
Answer:
3%
Explanation:
ratio of 80 or 90 percent or more highly negative impact on your credit score.
A teacher buys 4.25 ounces of a compound for an experiment. The compound costs $5.76 per ounce. The teacher pays with a $50 bill. How much change does the teacher receive?
Answers
Answer:
hi!!!
$21.88 is the answer!!!
hope it helps!!!
Complete the following table by computing the missing amounts for the following independent cases. (Do not round intermediate calculations. Round "Annual Interest Rate" to 1 decimal place.)
Answers
The simple interest formula can be used to determine the interest that has been accrued on a primary balance. In order to find missing values like the principal or the interest rate, the formula can also be changed.
Define simple interest rate.The principal of a loan or the initial deposit into a savings account is used to compute simple interest. A creditor can only charge simple interest on the principal amount because it doesn't compound, and a borrower is never obligated to pay further interest on the interest that has already accumulated.
Equation for simple interest:
A = P (1 + rt)
Here,
A is the Total Accrued Amount (principal + interest)
P is the Principal Amount
I denotes Interest Amount
r denotes Rate of Interest per year in decimal. That is r = R/100
R represents Rate of Interest per year as a percent. That is R = r * 100
t represents Time Period involved in months or years
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two examples of the use of pricing tactics
Answers
Answer:
Price skimming. When you use a price skimming strategy, you're launching a new product or service at a high price point, before gradually lowering your prices over time. ... Penetration pricing. ...Explanation:
Visit any nearby business of your locality and collect the information to prepare a project work report by taking the following information. 1)name and address of the firm. 2)find out whether the journal is maintained or not. 3) following the values of debit and credit. 4)the recording of business transactions in the journal
Answers
It is impossible to visit any nearby business of your locality and collect the information to prepare a project work report based on the factors given
What is a firmA common term for a company or business organization is "firm". A business is an organization involved in diverse economic endeavors, ranging from the production of goods, provision of services to trading of products.
A company usually has defined legal framework, ownership, and administration, with the main aim of earning profits or attaining specific goals. Companies can vary in their scale, spanning from petite regional enterprises to enormous global conglomerates.
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1. What is the required reserve ratio? (1 point)
Othe deposits that commercial companies make in banks
O the amount of money a bank has to loan out
O the portion of a deposit that a bank must keep on hand
Othe ratio of commercial to personal loans that a bank makes
Answers
Answer: C. the portion of a deposit that a bank must keep on hand
Explanation:
what is your view on the "online gaming system with absolutely no physical presence in the presence in the philippines. shall be considered as "doing business" in the philippines and was thus required to obtain a license to do business from the SEC, state facts to support your answers.
Answers
It is TRUE to state that "online gaming system with absolutely no physical presence in the presence in the Philippines can be considered as "doing business"
What is the justification for the above assertion?The Securities and Exchange Commission - SEC stated various criteria to support the corporation's presence in the Philippines:
1) establishment of the online account takes place in the Philippines;
2) Access is granted by users in the Philippines;
3) The material is paid for using local credit cards from within the Philippines; and
4) The web material is delivered in the Philippines. The IP address in the Philippines gets the offer of services, transmits the acceptance of the offer to the virtual plane, and lastly, the content or service is delivered to the account holder's IP address in the Philippines via such virtual plane.
As a result, "the transactions will be executed in the Philippines," according to the SEC.
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How can you begin applying your knowledge of Fiscal Policy with, stabilizing and/or corrective capabilities, to the current political dialog among the many elected Public officials, as well as those who are seeking election, at the Federal and State Levels, who are expressing their Macroeconomic ideas that are thought to be the only possible policy cures that will actually redirect and strengthen the recovery of the U.S. economy?
Answers
Federal and State Levels, are the expressing the recovery of the U.S. economy are the economic growth, and the wages and prices, and the employment.
What is economy?
The mechanism through which a nation or region organizes its money, industry, and trade is concerned to as its “economy.” The economy is the important part of the country. The primary sector of the economy is the industrial sector and agriculture sector.
According to the Federal and State Levels, there are the express the recovery of the U.S. the employment are the created the wages and the economy of the economic growth.
As a result, in the Federal and State Levels, are the expressing the recovery of the U.S. economy are the economic growth, and the wages and prices, and the employment.
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During the assessment phase of networking, it’s best to be specific about your business _______.
Doing some research on the key players will help you make the most of business _______ or _______.
Chatting with other people at parties or meetings is a great way to make _______.
When out networking people in _______ naturally gravitate to others.
Based on what you've read, respond to the following.
List two of the qualities that help form a strong foundation for business relationships.
What are two important stages in making business connections?
Answers
1. During the assessment phase of networking, it is best to be specific about your business objectives.
2. Doing some research on the key players will help you make the most of business contacts or opportunities.
3. Chatting with other people at parties or meetings is a great way to make connections.
4. When out networking, people naturally gravitate to others.
Business relationships are an essential aspect of all types of business enterprises, whether large or small. Developing good relationships is vital to the success of any business. Two qualities that help form a strong foundation for business relationships are trust and reliability. These two qualities help establish a sense of honesty, transparency, and consistency in business practices.
Trust and reliability are vital components of business relationships because it creates a safe and comfortable environment for business partners to communicate freely, share ideas, and brainstorm on how to grow the business together. In addition, it provides an avenue for open discussions and sharing of constructive feedback that will help businesses identify areas of improvement.
The two most important stages in making business connections are networking and relationship building. Networking is a critical stage in business development because it enables businesses to build a vast array of contacts that they can leverage to grow their business. Relationship building, on the other hand, focuses on building trust and nurturing relationships with clients, partners, and other stakeholders.
This stage requires a long-term commitment and entails consistent communication and transparency to establish a sense of mutual trust and respect. To conclude, strong business relationships are essential to the success of any business. Building such relationships takes time and effort. Trust and reliability are crucial elements that can help establish a strong foundation for business relationships. Networking and relationship building are two vital stages in making business connections, and they require commitment, time, and effort.
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Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. What is the current asset turnover ratio?
a. 1.82
b. 2.05
c. 2.15
d. 2.27
Answers
Answer: d. 2.27
Explanation:
Asset Turnover = Total sales / Average Assets
Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0
The new turnover would be;
= (20 * 1.25)/(10 * 1.1)
= 25/11
= 2.27