(nndb.com) How much did things cost in 1958? Compared to today’s prices they seem very low, but it is all relative I suppose. A new house cost between $12,000 and $18,000. A new car would have set you back $2,200. Gas for that new car cost you 25 cents a gallon.
The car is used 70% for business and 30% for personal use (Assume that this percentage is maintained for the life of the car.). She does NOT elect to take additional first-year depreciation. Determine the cost recovery deduction for 2011. Question : (TCO 10) Which of the following is correct? Question : (TCO 10) On May 2, 2011, Karen places in service a new sports utility vehicle that costs $70,000 and has a gross vehicle weight of 6,300 lbs.
1 1. If the beginning balance of retained earnings equals $12,000, the ending balance of retained earnings equals $15,000, and dividends for the year equal $1,000, then net income for the year equals: A. B. C. D. $3,000 $4,000 $2,000 $1,000 2. A company receives a $50,000 cash deposit from a customer on October 15 but will not provide services until November 20. Which of the following statements is true?
(TCO G) The ABC Corporation's budgeted monthly sales are $4,000. In the first month, 40% of its customers pay and take the 3% discount. The remaining 60% pay in the month following the sale and don't receive a discount. ABC's bad debts are very small and are excluded from this analysis. Purchases for next month's sales are constant each month at $2,000.
In Alexa's situation, all expenses incurred in this year is 28,900 while the passive income is only 20,000. Since we are not sure if Alex qualifies as an active participant at this point, none of the passive loss can be deducted again the passive income. 2. Assuming that Alexa's AGI from other sources is $90,000, what effect does the rental activity have on Alexa's AGI?Alexa makes all decisions with respect to the property. The AGI will be reduced by 8,900.
As Bernadette’s AGI ($103,000) is less than $160,000, Bernadette qualifies for a $2,500 American Opportunity credit. The lifetime learning credit is available per taxpayer on the first $10,000 of qualifying tuition expenses. Accordingly, her tuition ($2,000) would qualify for the credit during 2011. Therefore, Bernadette’s maximum lifetime learning credit would be $400 (20% × $2,000) for 2011. However, the $400 maximum credit would have to be reduced by $20 since her $103,000 AGI exceeds the threshold level of $102,000 for married
90 / $160 = 0.562556.25% $3,150,000 / 0.5625 = $5,600,000 is the break-even point in revenue per month. b. What is the break-even point in number of passenger train cars per month? The break-even point in number of passenger train cars per month is calculated below: 90 * 70% = 63 is the break-even average passenger per car. 35,000 / 63 = 555.55 556 is break-even point in number of passenger train cars per month.
BUSN602 Midterm Exam Set 2 Click Link Below To Buy: http://hwcampus.com/shop/busn602-midterm-exam-2/ Return to Assessment List Part 1 of 1 - 100.0 Points Question 1 of 20 5.0 Points Jill Clinton puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after five years? A.$1,200.50 B.$1,220.20 C.$1,174.80 D.$1,217.50 Question 2 of 20 5.0 Points An increase in inflation should: A.increase the demand for loanable funds B.decrease the interest rate on loans C.increase the interest rate on loans D.none of the above Question 3 of 20 5.0 Points Economists use a ___________________ framework to explain
The depreciation is based on the car’s life not of the lease agreement. Question # 2 In item #4 we assumed that the $100,000 bond with a 5% rate involves a 15 year-end annual interest payments of $5,000 (100,000*.05). The payments is assumed to be annual, at year end. In appendix B the value of 8% for 15 years is 8.559. so the present value of $5,000 is $42,795, for interest payments $100,000*.315 which is $31,500. In total it will be $74,295; since the investors paid $80,000 the yield rate is less than 8%.
You cannot tell your landlord that you are only going to pay 70% of rent this month because housing cost is not negotiable. The same is true with healthcare and education. Insurance and pension can be adjusted but it takes a lot of paperwork and most time you have to wait for the enrollment period to adjust the insurance. References Careeroverview.com (2013) Automotive Service and Mechanic Salary, Earnings and Wage Information. Retrieved from http://www.careeroverview.com/automotive-mechanic-salaries.html Erhard BMW of Bloomfield hills (2013) Automotive Technician – MICHIGAN