Coverage was 100/300/50. What was the total injury liability coverage in this accident? O $40,000 O $85,000 O $125,000 $225,000
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- What is the amount of the casualty loss on a business use truck that had a fair market value of $14,000 before an accident and $4,000 after an accident, if its adjusted basis is zero? a. 0 b. 4000 c. 10,000 d. 14,000 e. none of the above.Required information Problem 11-42 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below.] On August 1 of year 0, Dirksen purchased a machine for $29,250 to use in its business. On December 4 of year 0, Dirksen sold the machine for $23,750. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable.. Problem 11-42 Part-b (Algo) b. Dirksen depreciated the machinery using MACRS (seven-year recovery period). What are the amount and character of the gain or loss Dirksen will recognize on the sale if the machine is sold on January 15 of year 1 instead? Description Total Gain or (Loss) Recognized Character of Recognized Gain or (Loss): Ordinary Gain or (Loss) $1231 gain or (loss) Amount18 Fair value less cost to sell: P650,000 Value in use:P750,000 Carrying amount:P1,010,000 Compute the impairment loss Group of answer choices P160,000 P100,000 P260,000 P360,000
- PA12. LO 11.5 Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $36,000 cash C. $31,000 cashQ 9.48: Prior to calculating the depreciation expense, what must a company estimate about the asset at the end of its useful life? Obsolescence Accumulated depreciation Depreciable cost AE Salvage value Qu D. Study th - Apply de plant asse O Mark for Review Confidence SUBMIT F5 F8 10 F6 AA F4 4. 8.6:01 A ( Title Give Solution An equipment costs P400,000 and has a life of 30,000 hrs at the end of which its salvage value is x pesos. In the first year, it was used for 6240 hrs. The book value at the end of the first year was P325,120. Find the value of x. 1/1 ET T 17 II
- S. The cost of platinum to be purchased to mpport August production is: A S198,000 B. $200,160 C. S195,840 D. S391,680 E None of the answers are corectQuestion 14 A ship has an insurable value of R5 000 000 but is insured for only R4 000 000. The ship is damaged during a storm at sea. Damage amounts to R500 000. The insurer will be liable for ... of the loss. 1 No payment will be made. 2 R500 000 3 R250 000 4 R400 000Calculate the assessed value of the piece of property: Assessment rate Market value Assessed value 80% $210,000
- wever, the replaced part was How much is the loss on the replacement assuming ld nart is P1,800,000 and (2) theA company that was to be liquidated had the following liabilities: Income Taxes Notes Payable secured by land Accounts Payable $ 15,000 120,000 48,000 Salaries Payable ($18,000 for Employee #1 and $5,000 for Employee #2) Administrative expenses for liquidation The company had the following assets: 23,000 Current Assets Land Building Saved 25,000 Book Fair Value Value $130,000 $115,000 60,000 100,000 175,000 220,000 Total liabilities with priority are calculated to be what amount? Multiple Choice О $106,650. $38,000.Given the information in the table below, what is country A's real aggregate product in B$ at constant purchasing power of year 2 for years 1, 2, and 3 respectively? Remember: step 1, make sure that the general price index has the correct base year; step 2, transform the nominal aggregate product in A$ into the real aggregate product in A$ using the correct general price index; and step 3, transform the real aggregate product in A$ into the real aggregate product in B$ using the correct exchange rate (and pay attention that exchanges rates are BS/A$, so you may need to use division or multiplication). Year 1 Year 2 Year 3 Country A's nominal aggregate product in the local currency A$. A$1000 A$1500 A$1800 1.000 1.250 1.200 Country A's general price index. Country B's nominal aggregate product in the local currency BS. B$2160 B$2592 "B$3888 0.500 0.625 1.000 Country B's general price index. Market exchange rate (BS/AS). 1.00 1.20 1.35 PPP exchange rate (BS/AS). 1.50 1.80 2.00