FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

My numbers aren't coming out right on this one can you show your work please? Thank you! Jose purchased $3 million of new office equipment

image text in transcribed

My numbers aren't coming out right on this one can you show your work please? Thank you!

Jose purchased $3 million of new office equipment on September 30, 2021. Jose elected to take the maximum allowable $ 179 expensing. His business earned $820,000 before 179. What is Jose's $179 deduction for 2021? $380,000 b. $1,050,000 $820,000 d. $670,000 a. C

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Fundamental Managerial Accounting Concepts

ISE Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds

9th Edition

1260565483, 9781260565485

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is problem recognition?

Answered: 1 week ago

Question

★★★★★
An air hockey player returns the puck to his opponent by bouncing the puck off the wall of the table as shown. From physics, the angles that the path of the puck makes with the wall are congruent....

Answered: 1 week ago

Question

★★★★★
Do the items on the measurement instrument appear relevant to the life experiences of persons in a particular cultural context?

Answered: 1 week ago

Question

★★★★★
North Bank has a loan receivable from Westminster Dance Company. Westminster is late making payments to the bank, and Kevin McHale, a North Bank vice president, is helping Westminster restructure its...

Answered: 1 week ago

Question

★★★★★
for each of the statments below, indicate through the appropriate letter whether it relates to the PCAOB auditing standards boards both the PCAOB and auditing standards board or neither the PCAOB nor...

Answered: 1 week ago

Question

★★★★★
Sunland Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 161000 miles. Taxd 10 cost $32,800 and is expected to have a...

Answered: 1 week ago

Question

★★★★★
answer management interview questions 1-Describe your skills, knowledge, and experience in managing office policies and procedures, such as developing and implementing project proposals, budgets, or...

Answered: 1 week ago

Question

★★★★★
Once a strategy for performance improvement has been determined, how can organizations gain the long-term commitment and investment of time required by all levels of the organization to implement the...

Answered: 1 week ago

Question

★★★★★
What makes the store manager of a retail company a classic example of an operations manager. Hint: please refer to large retail companies

Answered: 1 week ago

Question

★★★★★
Consider the following workplace research example: Within one company division, employees were asked to create self-managed work groups in order to accomplish an important company objective. Leaders...

Answered: 1 week ago

Question

★★★★★
Define and describe the types of manufacturing, services, and extraction industries. Give examples. 2. What are the various categories of services? Give examples for each category? 3. How do services...

Answered: 1 week ago

Question

★★★★★
3.30 A securities analyst claims that, given a specific list of 6 common stocks, it is possible to predict, in the correct order, the 3 that will perform best during the coming year. What is the...

Answered: 1 week ago

Question

★★★★★
3.33 The senior management of a corporation has decided that in the future it wishes to divide its consulting budget between 2 firms. 8 firms are currently being considered for this work. How many...

Answered: 1 week ago

Question

★★★★★
3.32 The soccer league in 1 community has 5 teams. You are required to predict, in order, the top 3 teams at the end of the season. Ignoring the possibility of ties, calculate the number of different...

Answered: 1 week ago

Previous Question Next Question