Answer:
<em><u>The manufacturer of the toaster would argue from the point of view of the warranty offered for the toaster.</u></em> In most electronic products, the manufacturer offers warranty ranging from 1 year to 5 years.
<em>For the toaster to have worked for more than 20 years without any problem shows that it was a good product. And, the warranty must have expired hence the need not to be held responsible for whatever happened to it.</em>
Explanation:
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
Answer:
Depreciation Expense for 2019 using form 4562
Basis For depreciation; Recovery Period ; Convention ; Method ; Depreciation deduction
2,000 ; 5 years ; HY ; 200 DB ; 400
40,000 ; 7 years ; HY ; 200 DB ; 6,573
Explanation:
Accelerated method of depreciation is used by businesses for accounting and income tax purposes. The depreciation is calculated in such a way that the depreciation expense is higher in early years and lower in later years. Pepe is also using this method to account for his business assets. The depreciation expense for computer equipment and manufacturing equipment's totals $6,973.
Answer:
The correct answer is letter "A" and "C": Focused on the concerns of the audience; Purposeful.
Explanation:
Business writing is necessary when reports of the financial situation of the company are necessary to be shared. These types of writings are characterized for being <em>objective </em>and <em>straight-to-the-point</em>. Besides, they must be <em>purposeful </em>-which implies there is a major reason why they are being written, and <em>audience orientated</em> -cover the information the audience is requesting to know.
<span>A. Compute Bob's realized gain (loss) on the exchange.
$320,000 + $40,000 + $80,000 = $440,000 - that is selling price
$440,000 - $240,000(basis) = $200,000 - that is realized gain
B. Compute Bob's taxable recognized gain.
$200,000 / $440,000 = 45.45%
($40,000 + $80,000) * 45.45% = $54,544
C. Compute Bob's basis in the land.
$(440,000-120,000) / $440,000 = 72.72%
$240,000 * 72.72% = $174.545</span>
