On August 23, 2020, Abbas bought a computer for $75,000 for business use. This was the only
Fantastic news! We've Found the answer you've been seeking!
Question:
On August 23, 2020, Abbas bought a computer for $75,000 for business use. This was the only purchase for that year. Abbas used the most accelerated depreciation method available but did not elect Sec. 179. Bonus depreciation was not available. Abbas sells the machine in 2021. The depreciation on the computer for 2021 is
A) $2,400.
B) $6,600.
C) $8,000.
D) $12,000.
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
GG Inc. just bought a computer for $2,000. It belongs to asset class 45 and has a CCA rate of 45 percent. Calculate the first-year and second-year CCA expenses.
-
Lawlor bought a computer for his business from Ace Computers. He fell behind in making payments on the computer. An Ace employee called Lawlor every day at work and at home to try to collect the...
-
A company should use an accelerated depreciation method because of the large decline in the value of an asset early in its life. Evaluate this statement.
-
We consider and simulate the supply chain under a wholesale price contract. As mentioned, we use a retail price of $10, a unit production cost of $2.50, and a (monthly) demand that is normally...
-
Refer to the High School Female Athlete and Male Athlete Strength data files on the text CD. a. Find the correlation between number of 60-pound bench presses before fatigue and bench press maximum...
-
Keen Umbehr was in the trash collection business. He had an exclusive contract with Wabaunsee County and six of the countys seven cities to collect the trash from 1985 to 1991. Throughout his term as...
-
Analog tape players read sound recorded on magnetic tape. The sound is recorded by magnetizing the tape longitudinally (magnetization parallel to the tape's length) with varying magnetic field...
-
The Ewert Exploration Company is considering two mutually exclusive plans for extracting oil on property for which it has mineral rights. Both plans call for the expenditure of $10 million to drill...
-
8. Money and Foreign exchange markets in Frankfurt and NY are very efficient and reflect the following information Spot Ex rate 1-yr TB rate a) $0.9000/Euro London 6.5% Unknown NY $0.9000/Euro 3.20%...
-
The file Problem5_9.xlsx contains passing statistics for NFL teams during the 2017 season. Using formulas that do combine INDEX and MATCH in the same cell, return the desired statistics in the range...
-
The following information is available for Pioneer Company Sales price per unit is $90. November and December, sales were budgeted at 3,040 and 3,510 units, respectively. Variable costs are 10...
-
The sun's mass is 1.99 x 1030 kg and it has a radius of 6.96 108 m. What is the Sun's gravitational field strength at its surface?
-
Which value describes the fraction of incident x - ray photons removed from a monoenergetic beam per unit distance? A . Half value layer B . mass attenuation coefficient C . linear attenuation...
-
1. What is the electric force between a 4.00 x 10^6 C charge and an 8.00 x 10^6 C change when they are separated by 5.0 m? a. 0.0575 N b. 0.0115 N c. 0.0128 N d. 0.0720 N
-
(a) Table 1 shows the requirements of two network applications. Application Bandwidth X Has min. requirement of 512kbps Elastic Y Reliability Loss-torelant No loss Time Sensitive Yes No (i) Suggest a...
-
used, when demultiplexing data up to a TCP socket? Which of the following datagram and segment header fields are Source and destination IP addresses, and source and destination port numbers. O...
-
SWOT analysis reveals whether a company has competitively stronger resources and capabilities than its closest rivals. is a tool for gauging how well a company's strategy is matched to industry key...
-
A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000, and $40,000. The associated standard deviations are $10,000, $12,000, and $9,000....
-
In response to the boards fourth question, the balance sheet exposure (in C$ millions) would be closest to: A . 19. B . 148. C . 400.
-
When translating Acceletrons fi nancial statements into US dollars, Redline is least likely to use an exchange rate of USD per SGD: A . 0.671. B . 0.588. C . 0.654.
-
In response to the boards third question, Templeton should note that the change will most likely aff ect: A . the cash ratio. B . fi xed asset turnover. C . receivables turnover.
Study smarter with the SolutionInn App