Answer:
B
Explanation:
Original Cost -$120,000
Useful life -10 years
Residual Value - $20000
Annual depreciation - $(120,000-20000)/10 = $10,000
Accumulated depreciation for 4 years = 10*4= $40000
Book value at disposal = $120,000-$40000= $80000
Sales value = $35,000
Loss on disposal = $80,000-$35000= $45,000
Based on the fact that London Corp, issued 1,000 shares at $20 per share, the effects of this transaction are:
- Increase in cash
- Increase in common stock
<h3>What happens when stock is issued?</h3>
When stock is issued newly, the stock will be sold for cash which in this case is;
= 1,000 x 20
= $20,000
This means that cash in the company has increased.
Something else that will increase is the common stock. This is the account where the value of the issued stock will go to.
Find out more on stock issuance at brainly.com/question/25562729
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Answer:
$890
Explanation:
With respective to tax perspective, the following items are not available for deductions which are shown below:
1. Union dues and work uniforms
2. Home office expenses
3. Unreimbursed employee expenses
The gambling losses are extent to the gambling winnings i.e $890 is available for the itemized deductions. The 2% rate is not applicable.
Answer:
11%
Explanation:
Average cost of automobiles in 2013 = $15,500
Average cost of automobiles now = $17,205
Change in average cost = $17,205 - $15,500
= $1,705
Rate of increase in cost is the ratio between the increase and the average cost before the increase.
Rate of increase = ($1,705/$15,500) × 100%
= 11%
The rate of increase for these automobiles between the two time periods is 11%.
Answer:
Explanation:
Dividends.
Usually now days, the rate of return is anywhere from 3 to 8 %. That means that if you have 10000$ worth of stock, you should expect about 300 dollars per year back. Doesn't sound like much, but it can build up.
Shares are what you buy that return the dividends. 1 share brings back so much money. You don't have to sell the shares to get the money. I have no idea what allotments and dispensations are when referring to stocks.
