Explanation:Given data:
Yearly lease from the company = $300/weekly +$.50 for every driven mile.
Annual insurance = $50/weekly.
Customer offer = $600 for a week ( 100 gallons of fuel in the truck inclusive).
Customer pays and additional $.50 for mile driven above 500.
Solution:
Cost of fuel in the truck
= 100 * $3.25
= $325.
Insurance cost = $50.
Total cost = $375.
Customer offer – total cost
= $600 – $375.
= $225.
1.The proposal should be accepted because even after deductions of the cost of running the truck, you are still left with $225 which doesn’t include the cost the customer would incite for driving above 500 miles.
2.No, as that would only have a little effect on the cost of running the truck. So my answer would still be same.
Answer:
The Correct Answer:
$40,000
Explanation:
IRC Section 1250 requires that excess depreciation (actual depreciation in excess of straight-line depreciation) be recaptured as ordinary income. Since the property has sold for more than the adjusted basis ($300,000 − $40,000 = $260,000 adjusted basis), the initial gains are recaptured based on the original purchase price of $300,000.
<em>This makes the first $40,000 of the profit subject to the unrecaptured Section 1250 gain while the remaining $20,000 is considered regular long-term capital gains.
</em>
Answer:
See the explanation below.
Explanation:
The Accounting Officer,
ABC Co.,
12, Ogbere Road,
Ibadan, Nigeria.
28 July 2019
Dear Mr. James,
Re: Refund of $2,000 Excess Receipt and Rent Adjustment
Kindly take this as response to your request for a refund of $2,00 for extra rent that was paid in June.
After a careful examination of my bank statement, I discovered that my account was credited twice with the sum of $2,000 for the rent due to a bank error.
The adjustment is hereby made as follow:
<u>Details $ </u>
Amount received 4,000
Refund of excess payment <u> (2,000) </u>
Actual rent paid <u> 2,000 </u>
Kindly find enclosed in this letter an amount of $2,000 as the refund of the excess payment.
I look forward to receiving your response and acknowledgment of the receipt of the refund.
Yours sincerely,
Amcool.
Malcolm Company uses a weighted-average process costing system. All materials at Malcolm are added at the beginning of the production process. The equivalent units for materials at Malcolm would be the sum of Units in beginning work in process and units started.
Answer: Option (2) is correct
<u>Explanation:</u>
The weighted average process costing system is used in case of those processes of production which are standardized.
The beginning cost of work in the process is added to the cost during the period and then it is divided by total equivalent units to arrive at the average cost per unit. Now the equivalent units for material at Malcolm would be units in the beginning work in process and the units started.
<span>A major difference between juvenile and adult courts is that juvenile courts are more likely to consider extenuating circumstances (emotional, mental, situational, etc.). Frequently, young people will only be moved to adult courts if their crime was particularly heinous, a history of rehabilitation services have not improved the situation, the young person needs a significant about of intervention, or simply that the juvenile is nearly an adult. Though there is evidence of some past intervention on Gwendolyn's behalf, we have no evidence that the crime was planned. Though she was breaking the law and one could say that the possibility of an accident was a logical conclusion, there is (based on this) no evidence that she went out with the intention of hurting or killing someone. Also, given that she is still a minor and at an age when her reasoning abilities are not fully formed, she honestly may not have been able to make that connection.
So, no, she should not be tried as an adult. However, she should serve actual time in a center, receiving rehabilitative services and completing community service in order to balance out some of the horror she has brought into the world through the death of a child.</span>
