On August 11, 2019, Nancy acquired and placed into service residential rental property, which cost $430,000; the cost of the land has been excluded. Nancy annually elects the maximum allowed Sec. 179 deduction. The total depreciation for the year is (rounded)
A. $15,636.
B. $5,865.
C. $5,117.
D. $4,141.
Answer: B
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On April 1, 2015, due to obsolescence resulting from a new technology, a company discarded a computer that cost $5,000, had a useful life of 4 years, and a salvage value of $400. Based on straight-line depreciation, the accumulated depreciation as of December 31, 2014 was $3,450. a. Prepare the journal entry to record depreciation up to the date of disposal of the computer.b. Prepare the journal entry to record the disposal of the computer.
What will be an ideal response?
The shareholders of a corporation are not personally liable for the debts of that corporation
Indicate whether the statement is true or false
The concept of permanent current operating assets reflects the fact that some components of current assets do not shrink to zero even when a business is at its seasonal or cyclical low. Thus, permanent current operating assets represent a minimum level of current assets that must be financed.
Answer the following statement true (T) or false (F)
The ________ are quite dynamic in terms of processing trades and incorporating information in prices and thus are considered very efficient markets
A) domestic bond markets B) equity markets C) fixed income markets D) foreign bond markets