All of the following are examples of items resulting in variable costs except:
Answer: depreciation.
Showing posts with label Business Management. Show all posts
Showing posts with label Business Management. Show all posts
Matthew will have some timber available to sell in December, 1987. His income for 1987 is going to be about $40,000 but his estimated income for 1988 is $20,000 because his wife plans to quit work to begin a family. With no significant changes in the tax law between 1987 and 1988, he will probably be better off to:
Matthew will have some timber available to sell in December, 1987. His income for 1987 is going to be about $40,000 but his estimated income for 1988 is $20,000 because his wife plans to quit work to begin a family. With no significant changes in the tax law between 1987 and 1988, he will probably be better off to:
Answer: defer the sale of the timber until 1988
Mr. Johnson harvested corn in October, 1986. He stored the corn and sold it in May, 1987. With the accounting method he uses, he did not report the value of the corn as income on his 1986 tax return but will report it as income in 1987. His accounting method must be
Mr. Johnson harvested corn in October, 1986. He stored the corn and sold it in May, 1987. With the accounting method he uses, he did not report the value of the corn as income on his 1986 tax return but will report it as income in 1987. His accounting method must be
Answer: the cash method.
How much will the yearly depreciation be if you use the straight line depreciation method for a computer system costing $3,500 with a seven year life?
How much will the yearly depreciation be if you use the straight line depreciation method for a computer system costing $3,500 with a seven year life?
Answer: $500
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