Answer: True
Explanation:
The Federal Reserve requires that all banks with National charters become members of the Federal Reserve so that they may have a say in the way the Fed runs its operations. State banks are not required to join but can if they meet some requirements.
The Office of Comptroller of the Currency (OCC) continually supervises and examines national banks to ensure that they are engaged in best practices regarding their operations and treatment of customers.
Answer:
$34,200
Explanation:
Step 1 : Cost of Equipment
<em>Cost of Equipment include Purchase Price plus other costs directly incurred to put the asset in location and condition intended for use by management</em>
Cost of Equipment = $110,500
Step 2 : Depreciation
Depreciation = (Cost - Residual Value)/ Useful Life
= $17,100
Step 3 : Accumulated Depreciation
Accumulated Depreciation = $17,100 x 2 = $34,200
Therefore,
the amount of accumulated depreciation at December 31, 2022 is $34,200
Answer:
5.13%
Explanation:
Given:
Worth of investment today (PV) = $1,000
Investment worth after 6 years (FV) = $1,350
Time period of investment (nper) = 6 Years
It is required to compute annual return (RATE). This can be computed using spreadsheet function =RATE(nper,-PV,FV).
Substituting the values, we get =RATE(6,-1000,1350)
= 5.13%
Present value is negative as it is a cash outflow.
Therefore, annual return is computes as 5.13%.
By questioning the proposal done by Hugh, Irene showed the characteristic of being able to scrutinize properly certain things. This attitude is helpful especially when we are in doubt of the certain subject. By doing so, we can help those who proposed it to further do improvements on the certain subject.
Answer:
$60,000
Explanation:
According to section 1250 of the Internal Revenue Service, the depreciation previously allowed as a deduction would now be taxed in the case of ordinary income at the highest tax level.
And, For this, the asset should be depreciated real property.
In the question, there is depreciation charged for apartment building so the same is eligible
The eligibility is allowed up to $60,000 and the same is to be considered