mccanless company recently purchased an asset for $2,700,000 that will be used in a 3-year project. the asset is in the 3-year macrs class. the depreciation percentage each year is 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. what is the amount of depreciation in year 2? multiple choice
Answers
The amount of depreciation in Year 2: $1,200,150. The correct option is A.
It is a method used to calculate the depreciation of assets for tax purposes in the United States. Under MACRS, the cost of an asset is recovered over a predetermined period of time, using a fixed percentage for each year.
In this case, the asset purchased by McCanless Co. is in the 4-year MACRS class, which means it will be depreciated over a period of 4 years. The depreciation percentages for each year are given as 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively.
To calculate the amount of depreciation in Year 2, we need to use the depreciation percentage for that year, which is 44.45 percent. We can calculate the depreciation expense for Year 2 by multiplying the depreciable basis (which is the original cost of the asset minus any salvage value) by the depreciation percentage for Year 2.
The depreciable basis for the asset is $2,700,000 (the original cost), as there is no salvage value given in the question. Therefore, the depreciation expense for Year 2 can be calculated as follows:
Depreciation expense for Year 2 = Depreciable basis x Depreciation percentage for Year 2
= $2,700,000 x 44.45%
= $1,200,150
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Complete question:
McCanless Co. recently purchased an asset for $2,700,000 that will be used in a 3-year project. The asset is in the 4-year MACRS class. The depreciation percentage each year is 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. What is the amount of depreciation in Year 2?
A)$1,200,150
B)$899,910
C)$200,070
D)$399,870
E)$900,000
Related Questions
Describe the difference between positive and negative cash flow?
Answers
Answer: Cash flow can be positive or negative.
Explanation:
Positive cash flow means a company has more money moving into it than out of it. Negative cash flow indicates a company has more money moving out of it than into it.
what are the advantages of being a member of World Trade Organization
Answers
Answer:
Explanation:
Every member country of the world trade organization enjoys the following benefits;
1. They enjoy more support for the development of their local industry
2. Member countries have access to get loan and incentives.
3. There is an existence of peacefully trading among member countries.
4. World trade organization helps members to grow their economy.
5. Through the growth of the economy, unemployment is reduced.
6. World trade organization also helps to resolve disputes among member countries
fill in the blank. the economic principle of___says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first.
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The economic principle of substitution says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first.
Substitution refers to the practice of utilizing a less costly alternative if a commodity appears to be overly expensive or beyond the consumer's budget.
The economic principle of substitution refers to the idea that people will substitute goods or services that are more cost-effective or efficient. This economic principle is used in situations where similar commodities can be used in place of one another.
When there are two or more competing goods with similar attributes, the cheaper one is more likely to be purchased.
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our self-talk consists of words pictures and emotions. as we imprint our affirmations we
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Self-talk is your inner voice or the way you speak to yourself. Although you almost probably are doing it without realizing it, you almost certainly are. In order to produce an internal monologue throughout the day, this inner voice mixes conscious thoughts with ingrained beliefs and biases.
What are the four categories of self-talk?Your inner discourse is known as self-talk.
Personalizing. You own all of the guilt for yourself.
Magnifying.
Catastrophizing.
Polarizing.
What are the five tiers of one's own self-talk?Helm Stetter outlines the "Five Levels of Self-Talk" (Negative Acceptance, Recognition and Need to Change, Decision to Change, The Better You, and Universal Affirmation) and offers advice on how to navigate each level for significant life changes.
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Find at least the first four nonzero terms in a power series expansion about x0 for a general solution to the given differential equation. y(x) nothing (Type an expression in terms of and that includes all terms up to order 3.)
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The given differential equation is y(x) = 0. For a general solution to this differential equation, the first four nonzero terms in a power series expansion about x = 0 is expressed as follows:$$\begin{aligned}y(x)&=y(0)+xy'(0)+\frac{x^2}
{2!}y''(0)+\frac{x^3}{3!}y'''(0)+\dots\\y(x)&=0+0+\frac{x^2}{2!}(0)+\frac{x^3}{3!}(0)+\dots\\y(x)&=0\end{aligned}$$Hence, the first four nonzero terms in a power series expansion about x = 0 for a general solution to the given differential equation y(x) = 0 is also equal to 0.
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Steven manages a team responsible for opening new restaurants of a large, fast-food chain. His team goal is to open eight restaurants in four months' time, and he's mapped out a plan for breaking this goal into actual tasks and projects. As Steven's mentor, what advice do you give him for managing obstacles that might disrupt his progress?
Answers
Answer:
divide all of the current obstacles by the level of urgency and take it one step at a time
Explanation:
When making any sort of plans there will always be unexpected obstacles that prevent/disrupt you from making progress. In these situations, the best advice would be to divide all of the current obstacles by the level of urgency and take it one step at a time. If you try to solve all the problems at once you will get overwhelmed and stressed out. Instead solve one at a time, focusing on the more urgent problems first.
Explain why financial management is an important aspect of a successful business .
Answers
Helps in improving the profitability of organisations; Increases the overall value of the firms or organisations; Provides economic stability; Encourages employees to save money, which helps them in personal financial planning.:
4. In your progress report, you want the Work Completed section to follow your
Summary of Costs. To date, the company has rewritten the home page content,
created a new logo, and updated the overall structure of the site. Currently, an idea
for site navigation has been proposed but not yet confirmed. You want to include a
visual of the navigation option in the progress report.
a. The navigation option includes these links from the Home Page: About, Services,
Customer Reviews, and Contact. The About section would include links to History
and Our Mission; the Services section would also include links to Pricing, Scope, and
Timeline. Show an example of a simple, custom graphic to display the navigation. (3
points)
Answers
Links to About, Services, Customer Reviews, and Contact are included in the suggested navigation option, along with dropdown menus for About (History and Our Purpose) and Services (Pricing, Scope, and Timeline).
What type of bar chart is most popular?When showing a sequence of statistics over time, it is highly helpful. If long labels are needed, vertical bar graphs have the drawback of not leaving much room at the bottom of the chart.
Which bar charts are frequently employed to display time series data?Using a sequence of bars, time series bar charts can display changes in a metric over time. This allows you to plot several series, display the breakdown of a metric across dimensions, and display the evolution of the values over time.
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Which term describes a country that has relatively high ratings for per capita income, GDP, and standard of living?
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An advance economies is what describes the country that has relatively high ratings for per capita income, GDP and standard of living
What is called an advance economies?This refers to the economies that have a high level of per capita income, a varied export base, and a financial sector that's integrated into the global financial system.
In other word, the advance economies is also called a developed economies and it is related to countries with relatively high levels of economic growth and security are considered to have developed economies. The common criteria for evaluation include income per capita or per capita gross domestic product.
Therefore, the Option A is correct.
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getting to know what your customers want, need, and care about is question 6 options: a waste of time. one of the chores of doing business. good customer service. only important in certain businesses
Answers
Answer:
Good customer service
Explanation:
name two methods used to measure inequality of income in a country
Answers
The most commonly used inequality measure are the Gini coefficient ( based on Lorenz curve ) and the percentile or share ratios. This measures try to capture overall dispersion of income; how were they tend to people different leavles of importantance on the bottom middle and top end of distribution .
I hope it is helpful for you .
With illustration explain how marriage/synergistic value is created arises
Answers
When two people get together and pool their resources, abilities, and skills to accomplish more than they might have done on their own, they are creating a marriage or synergistic value.
The idea of a puzzle can serve as an example of this value.Think of each person as a jigsaw piece with a distinct shape and pattern. When two people marry, they join their disparate parts to form a more complex and substantial whole.
Without a single component, the total picture would be without something important and crucial that each piece adds.
Similar to this, in an union, each spouse brings unique skills and talents to the table that, when combined, can result in more fulfilment and success than either could get on their own.
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Each of the following conditions, except one, must be satisfied in a perfectly competitive labor market. Which is the exception?
a. There are a large number of buyers of labor services.
b. Wages are the sole source of household income.
c. There are no barriers to entering the market.
d. There are a large number of sellers of labor services.
e. All workers appear the same to buyers of labor services.
Answers
In a perfect competitive labor market, workers may have extra sources of family income separated from wages, which is the exemption among the given conditions. Hence, option B is the correct answer.
How is option B satisfied in a perfectly competitive labor market?The special case among the given conditions for a perfectly competitive labor market is option b. Wages being the sole source of family salary
In a perfectly competitive labor market, workers may have numerous sources of family income, such as ventures, self-employment, or other shapes of non-labor salary.
The other conditions recorded are commonplace characteristics of a perfectly competitive labor market: a large number of buyers and venders of labor administrations, no barriers in entering the market and laborers being seen as comparative by the buyers of labor administrations.
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You have become a trusted resource for your organization, and they have asked for your advice on gaining a competitive advantage in the field. More specifically, they would like your analysis and recommendations on ways to bring their company culture, demographics, and technologies up to current industry practices and beyond. Review the demographic and technological information about your company. If the information is not public, base your decisions on a similar company and research. This information will assist you as you complete your Organizational Presentation in Step 2 of this assessment.
Answers
Improving company culture, demographics, and technologies can contribute to gaining a competitive advantage.
To enhance company culture, it is essential to foster an environment that values employee engagement, collaboration, and innovation.
This can be achieved through initiatives such as promoting open communication channels, encouraging continuous learning and professional development, recognizing and rewarding employee achievements, and creating a diverse and inclusive workplace culture.
In terms of demographics, it is important to have a workforce that reflects the diversity of the customer base and target market. This can be achieved through targeted recruitment and hiring practices, implementing diversity and inclusion programs, and providing equal opportunities for career growth and advancement.
Regarding technology, staying up to date with current industry practices and adopting cutting-edge technologies can give your organization a competitive edge. This may include investing in cloud computing, data analytics, artificial intelligence, automation, and digital transformation initiatives.
It is crucial to regularly assess technological needs, conduct market research, and invest in training and development to ensure employees have the necessary skills to leverage these technologies effectively.
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Put the following investment options in order of least to greatest risk: starting a business, B-rated bond, speculative stock, property
Answers
Answer:
1. B-rated bond
2. property
3. starting a business
4. speculative stock
The order of investment options in order of least to greatest risk is B-rated bonds, Property, Starting a business, and speculative stock.
What do you mean by investment?Investment refers to the item acquired to generate more revenues or profits.
The order of investment options from least to greatest risk is B-rated bonds, property, starting a business, and speculative stocks.
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which of the assumptions below assures us that economic profit will be zero in the long run equilibrium for perfectly comeptitive firms
Answers
The assumption of free entry and exit of firms assures us that economic profit will be zero in the long-run equilibrium for perfectly competitive firms.
In the long run, under perfect competition, firms are free to enter or exit the market based on their economic profitability.
If firms in the industry are earning positive economic profits, new firms will be attracted to enter the market, increasing the supply of goods or services. This increased supply will eventually drive down prices, leading to a decrease in individual firm profits.
Conversely, if firms are incurring losses in the industry, some firms will exit the market, reducing the supply. This reduction in supply will cause prices to increase, improving the profitability of the remaining firms.
Through this process of entry and exit, the market reaches a long-run equilibrium where economic profit for each firm is zero. In other words, firms will earn enough revenue to cover all their costs, including both explicit costs (such as wages and rent) and implicit costs (such as opportunity costs).
The assumption of free entry and exit of firms ensures that economic profit will be zero in the long run equilibrium for perfectly competitive firms. This equilibrium is achieved through the adjustment of prices based on market conditions, leading to a state where firms earn enough revenue to cover all their costs without earning any additional economic profit.
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What would happen if the european union put a quota on american jeans and only allowed 4,000 pairs of jeans to be imported?
Answers
If European Union puts quota on American jeans, it would become more desirable and expensive.
What is European Union?The European Union is a unique partnership between 27 European countries known as Member States or EU countries. Together they cover most of continental Europe. About 447 million people live in the EU, which is about 6% of the world's population. Citizens of EU countries are also EU citizens
Members of European Union:Croatia, Republic of Cyprus, Czech Republic, Austria, Belgium, Bulgaria, Denmark, Estonia, Finland, France, Romania, Slovakia, Slovenia, Spain, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
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If European Union puts quota on American jeans, it would become more desirable and expensive.
What is European Union?The European Union is a unique partnership between 27 European countries known as Member States or EU countries. Together they cover most of continental Europe. About 447 million people live in the EU, which is about 6% of the world's population. Citizens of EU countries are also EU citizens
Members of European Union:Croatia, Republic of Cyprus, Czech Republic, Austria, Belgium, Bulgaria, Denmark, Estonia, Finland, France, Romania, Slovakia, Slovenia, Spain, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
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hey does anyone play nitro type!?
Answers
yeah lol I used to play all the time but I sucked at it
Improvements in technology have allowed schools to use electronic books rather than original textbooks. Electronic books have _________ in supply.
a. increased
b. decreased
Answers
Improvements in technology have allowed schools to use electronic books rather than original textbooks. Electronic books have increased in supply. Option A
What are electronic books?E-books, or electronic books, are digital files including text and images that may be distributed electronically and displayed on screens in a way that is comparable to a traditional book.
eBooks are portable and light, making them simple to transport. A single eBook reader may store thousands of eBooks, saving you from lugging many heavy books. Both in your house and your purse, it frees up a lot of room. Concerning the storage cap, one should not worry.
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Tom is setting up a business as a boarding kennel. He will look after dogs while the owners are away. He has found a barn that he can rent. It will need fitting out with secure kennels and runs for the dogs. Identify three start up costs he may have. 1. Feeding bowls/dog leads and other dog care items
2.
3.
Answers
Answer:
Explanation:
1) Feeding bowls / dog leads and other dog care items. These are important for a safe upkeep and care of dogs that will be in his custody.
2)Tom should also have good insurance policy in place in order to make provision for future potential loss, The insurance policy should cover all the breeds of dogs for maximum economic benefit.
3)Another cost is the cost of obtaining a boarding license at the rate set by the covering local council . This is necessary to obtain a full government approval .
a)Sold goods to Kriti on credit costing Rs. 8,000 for Rs. 10,000.
b)Paid salary in advance Rs. 15,000.
c)Rent outstanding Rs. 2,000.
d)purchased furniture for Rs. 12,000 giving Rs. 4,000 in cash and balance on credit.
e)furniture purchased and paid by cheque rs10,000.
:journal entry.
Answers
Answer:
Here are the journal entries for the given transactions:
a) Sold goods to Kriti on credit costing Rs. 8,000 for Rs. 10,000.
Debit: Accounts Receivable (Kriti) 10,000
Credit: Sales Revenue 10,000
Debit: Cost of Goods Sold 8,000
Credit: Inventory 8,000
Copy
b) Paid salary in advance Rs. 15,000.
Debit: Prepaid Salary 15,000
Credit: Cash 15,000
Copy
c) Rent outstanding Rs. 2,000.
Debit: Rent Expense 2,000
Credit: Accrued Rent Payable 2,000
Copy
d) Purchased furniture for Rs. 12,000 giving Rs. 4,000 in cash and balance on credit.
Debit: Furniture 12,000
Credit: Cash 4,000
Credit: Accounts Payable 8,000
Copy
e) Furniture purchased and paid by cheque rs10,000.
Debit: Furniture 10,000
Credit: Cash (or Bank if paid by cheque) 10,000
Jim has excellent oral and written communication skills. He enjoys public speaking and wants a job in which he will interact with the press and other communication professionals. Which career would allow him to use his skills, talents, and abilities the most?
Answers
Answer:
Public Relations Specialist
Explanation:
Considering you do not have answer choices, I would answer that the best career for Jim would be Public Relations Specialist.
Can anyone help me develop a good business name for a graphic design company?
So far I have Jeon Graphic Design Co. And that's too basic. The family's last name is Jeon, which is why it is there. Please help.
Answers
Answer:
That is a pretty business name right there, sometimes LESS is MORE.Graphic design business names you may like:Jeon graphic design.co
Jeonify graphics.co
Jeon side graphic studio.co
Jeon Joen graphics.co (it's too good you have to pronounce it twice)
Jeon and me graphic studio.co
Jeon studio graphics.co
Jeon graphic studios.co
Jeon graphic lens.co
The real jeon graphic design.co
and so on....ORYou can use a name generator 0nline to great a name you might like and maybe touch it up with your own words (just a suggestion).Don't forget to relax and be creative and have fun finding the perfect name for that lovely family business.Hope this helps atleast
Good luck ✅
The cost for decorations and the disc jockey for the homecoming dance was $1,800. The class members sold 279 tickets and made a profit of $3,450. If x represents the price of each ticket sold, which equation could be used to find x?.
Answers
If x is the cost of each ticket sold, then the cost is $ 1800 and the profit is $3450, which equals 279 tickets.
The required details for cost in given paragraph
A cost is the amount of money that was expended during the creation or provision of a good or service and is now not usable. It's possible for a cost in business to be an acquisition cost, in which case the cost is the total amount of money spent on the acquisition.
We should now construct an equation for this circumstance.
tickets ⋅ \sprice − cost = profit
Everything is known to us except the cost. Add all the data that we are aware of to the equation: Now that we know the price is 279 price times $ 1800, we can figure out the price.
279 ⋅ price − $ 1800 = $ 3450
279 ⋅ price = $ 3450 + $ 1800 = $ 5250 \s price = $ 5250 279 \s price ≈ $ 18.82
Each ticket cost 18.82.
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1. summarize tort theories and the elements related to tort liability. be sure to: a. provide examples of intentional tort.
Answers
Tort theories are legal frameworks used to determine liability for harm or injuries caused by one person's actions or omissions towards another.
They involve civil wrongs that are not contractual in nature. Intentional torts occur when a person intentionally causes harm or injury to another. Examples of intentional torts include assault, battery, false imprisonment, defamation, trespassing, and intentional infliction of emotional distress. These actions involve a deliberate intent to cause harm or engage in wrongful conduct. The elements related to tort liability generally include a duty of care owed by the defendant to the plaintiff, a breach of that duty, causation linking the defendant's actions to the plaintiff's harm, and damages suffered by the plaintiff as a result.
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The simplest way to think about throughput is the quantity of work completed.a. Trueb. False
Answers
True, the amount of work performed is the easiest way to think about throughput.
The amount of work completed by an employee in comparison to the standards set by the employer is known as the quantity of work. Establishes new benchmarks for productivity and motivates coworkers or members of the team with their own performance
Always looks for methods to create more work, even if that means putting in extra time or showing up early for work. prioritizes the productivity of the team and continuously seeks out and applies innovative strategies to accomplish tasks and improve the team's production.
Always goes above and above; accountable for a significant increase in the production of own department. fully comprehends the metrics behind productivity, and works diligently and shrewdly to improve departmental and corporate efficiency.
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The numbers on which of these credit cards always start with the highest digit? visa mastercard discover american express.
Answers
Discover cards are credit cards whose numbers always begin with the highest digit.
What is Discover Cards?
Discover Financial, an American provider of financial services, is the corporation that issues the Discover brand of credit cards (DFS).Discover cards were first offered by retailer Sears, Roebuck & Co. in 1985. When they were first introduced to the public in 1986, they stood out for their lower fees and innovative cash-back rewards programme. Since 2007, Discover has operated independently.Today, Discover Cards rank with Visa (V), Mastercard (MA), and American Express as some of the most extensively used credit cards worldwide (AXP). The Discover brand of consumer credit cards is well-known for its fee reductions and cash-back rewards programme.Without using intermediary bank issuers, Discover Financial offers credit cards directly to its consumers, making a profit from the interest on their outstanding amounts.To know more about Discover Cards visit:
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After the 2008 economic meltdown, finances were very uncertain, making saving money extremely important. To help with this, certain rates were changed which affect everyone's paychecks. Social Security taxes were temporarily reduced and minimum wage was increased. This means that there was more take-home money in a paycheck which is perfect for saving. Which is the best way to deal with financial uncertainty
Answers
Answer:
Create a savings fund to cover costs in case of an emergency.
Explanation:
From the question we are informed about scenerio which happens After the 2008 economic meltdown, finances were very uncertain, making saving money extremely important. To help with this, certain rates were changed which affect everyone's paychecks. Social Security taxes were temporarily reduced and minimum wage was increased. This means that there was more take-home money in a paycheck which is perfect for saving. In this case, the best way to deal with financial uncertainty is to Create a savings fund to cover costs in case of an emergency.
Savings Fund can be regarded as mutual fund solution that is available for investors that seeks level of income that is stead, even though they are preserving the capital of their initial investment. For this objective to be achieved, Savings Funds could invest a relative amount of (80%-85%) of that particular assets in an investment with low-risk. One of the best saving funds is SBI Equity Savings Fund.
An oligopoly is a market structure in which a large number of firms dominate the market. T or F
Answers
Answer: F
Explanation:
An oligopoly is a market structure in which a large number of firms dominate the market.
An oligopoly is a market structure in which a large number of firms dominate the market. FALSE.
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false