Q3 A car company purchase executives. The purchase cost car are kept for which they are expected to after which they are $300,000. The resale valve of for a use use by this year is 8 years have $ 8,000. of accountants straight-line depreciation, determine the function which describes Vas the book value a function of the age of the car find out the book value at year 4.
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- Compute Darryl's total Social Security and Medicare taxes for the third quarter, if she is self-employed and earns $1,620.00 on a weekly basis. $247.86 $1,611.09 $1,737.45 $3,222.18The Photo Express buys cameras and film with an invoice date of May 17. If the terms of sale are 2/15, n/45, find the net date.Suppose a computer software developer for a certain company purchased a computer system for $55,000 on April 27, 2017. The computer system is used for business 100% of the time. The accountant for the company elected to take a $30,000 Section 179 deduction, and the asset qualified for a special depreciation allowance. (a) What was the basis for depreciation (in $) of the computer system? (See Table 17-4.) $ (b) What was the amount (in $) of the first year's depreciation using MACRS? (See Table 17-1 and Table 17-2) $
- The POS requires that the employee pay $43.01 per month to supplement the cost of the program with the company’s payment. If Ron uses health care providers within the plan, he pays the copayments as described above for the HMO with no annual deductible. He can also choose to use a health care provider out of the network and pay 30 percent of all charges after he pays a $630 deductible. The POS will pay for 70 percent of those covered visits. Ronald decided to review his medical bills from the previous year to see what costs he had incurred and to help him evaluate his choices. He visited his general physician three times during the year at a cost of $210 for each visit. He also spent $83 and $107 on two prescriptions during the year. Assume Ron visited a physician outside of the network plan but had his prescriptions filled at a network-approved pharmacy. If Ronald selects the POS plan, what will his annual medical costs be? (Do not round intermediate calculations. Round your…In what year will the estimated revenue of Amazon be 1,241 billion US dollars? Note: I am asking for the year, not the number of years since 2010. This may happen between two years. Round to the nearest year.An assessee depreciated the machinery of his factory by 10% each in the first two years and by 40% in the third year and thereby claimed 21% average depreciation relief from taxation department, but the I.T.O. objected and allowed only 20% Show which of the two is right.
- Determine the number of years for deposit of OMR 1371 to earn OMR 165 interest at 4%. a. 5 Years b. 4 Years c. 2 Years d. 3 YearsA sum of $20,000 is used to buy a deferred perpetuity-due that pays $2,100every year for the first 5 years and $1,000 per year thereafter. If the annualeffective rate is 6%, find the deferred period.One year ago, Lori assigned a paid-up whole life insurance policy to an Irrevocable Life Insurance Trust (ILIT) for the benefit of her three children. The ILIT contained Crummey provision for the benefit of each child. At the time of the transfer, the whole life insurance policy was valued at $200,000, and since Lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. Lori died in the current year, and the face value of the whole life insurance policy of $2,000,000 was paid to the ILIT. Regarding this transfer, how much is included in Lori's gross estate at her death? $0 $164,000 $964,000 $2,000,000
- The following information relating to property plant and equipment was extracted from the accounting records of Fred’s Transport for year ended 28 February 2022; 1. Balances at 28 February 2021:- Equipment at cost R 56 000- Accumulated depreciation: equipment R 10 860- Vehicles at cost R560 000- Accumulated depreciation: vehicles R285 360 2. The following transactions in respect of property, plant and equipment took place during the current financial year:2.1 An old vehicle was sold on 31 August 2021 for R144 000 cash. The cost price of the vehicle sold was R240 000, and its accumulated depreciation amounted to R120 100 on 1 March 2021. The proceeds from the sale of the vehicle was used to partially finance the purchase of another vehicle for R440 000 bought on 1 September 2021.2.2 On 28 February 2022 sold used equipment for R14 400 cash. The accumulated depreciation on this equipment was R3 280 at 1 March 2021. The cost price of the equipment was R18 000. 3. Depreciation must still be…Brody’s gross monthly salary amounts to ₱34,600.00 per month subject to the following deductions: SSS contribution - ₱481.30, PhilHealth contribution - ₱212.50, PAG-IBIG contribution - ₱120.00. His withholding tax is ₱3,905.80 per month. Furthermore, he is married with two dependents under his name b. Determine his income tax due at the end of the year and his income tax payableIf an investment company started in business with $1 million of capital on January 1 and, because of mismanagement, lost and average of $873 every day for a year, what would be its financial situation on the last day of the year?