Business, 19.10.2019 01:20 bernardhenderso4459
White company acquires a new machine for $75,000 and uses it in white’s manufacturing operations. a few months after white places the machine in service, it discovers that the machine is not suitable for white’s business. white had fully expensed the machine in the year of acquisition using § 179. white sells the machine for $60,000 after it held the machine only for a total of 15 months. what was the tax status of the machine when it was disposed of and the amount of the gain or loss?
(a) an ordinary asset and $60,000 loss.
(b) a § 1231 asset and $60,000 gain
(c) an ordinary asset and $60,000 gain.
(d) a § 1231 asset and $60,000 loss.
(e) a capital asset and $60,000 gain.
Answers: 2
Business, 21.06.2019 20:40
Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.
Answers: 2
Business, 22.06.2019 10:00
How has internet access changed and affected globalization from 2003 to 2013? a ten percent increase in internet access has had little effect on globalization. a twenty percent decrease in internet access has had little effect on globalization. a thirty percent increase in internet access has sped up globalization. a fifty percent decrease in internet access has slowed down globalization.
Answers: 1
Business, 22.06.2019 10:30
Which maxim is being neglected in the following conversation? eli: how did you do at the track meet? caleb: i came in second place! eli: congratulations! what was your time? caleb: six minutes, four seconds. the guy who won only beat me by three seconds. eli: really? katie said the winning time was under 6 minutes. caleb: oh, well, he might have beat me by five seconds. a)maxim of quantity b)maxim of quality c)maxim of relevance d)maxim of manner
Answers: 1
Business, 22.06.2019 14:10
Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?
Answers: 1
White company acquires a new machine for $75,000 and uses it in white’s manufacturing operations. a...
Mathematics, 19.08.2021 05:40
Mathematics, 19.08.2021 05:40
English, 19.08.2021 05:40
Physics, 19.08.2021 05:40
Mathematics, 19.08.2021 05:40
Computers and Technology, 19.08.2021 05:40
Computers and Technology, 19.08.2021 05:40
English, 19.08.2021 05:50
Mathematics, 19.08.2021 05:50
Mathematics, 19.08.2021 05:50