Question: please answer all questions!!! Bobcos capitalization policy for their applicable financial statemnts stipulates the company will expense assets costing 5000 or less per team or

please answer all questions!!!

Bobcos capitalization policy for their applicable financial statemnts stipulates the company will expense assets costing 5000 or less per team or invoice. Bob cos asset accountant has just received a copy of an invoice from apple computers billing bobco 90,000 for 20 computers 6,300 in sales tax and 3,5000 in shipping.

For purposes of the 1.263(a)-1 f de minims capitalization rule the per item cost is:

For tax purpsoses how much of this purchase will BobCo record as: capital expenditure and expense

2. JimCo is a calendar year tax payer. Jim purchased a milling machine for 100,000 on nov 1 2018 jimmy total capital expenditures in Q1-Q3 was 200,000 jimmy ad to upgrade their electrical panel to meet the power requirements for the machine that work was completed on jan 5 2019

The MACRS depreciation on the milling machine for 2018 is ( ignore section 179 and bonus depreciation)

When does the all events test under the accrual method require the recognition of income from the sale of goods?

when the title of the goods passes to the buyer'when the business receives payment

when payment is due from the buyer

the earliest of the above three dates

none of the choices are correct

please answer all this is all the information that is given

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