Macrs Samenvattingen, Aantekeningen en Examens

Land improvements are generally not eligible for cost recovery. True False Rationale: Land improvements are 15­year class property. The § 179 deduction can exceed $500,000 in 2015 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year. True False Rationale: The § 179 amount eligible for expensing in a carryforward year is limited to the lesser of (1) the statutory dollar amount ($500,000 in 2015 and 2014) reduced by the cost ...

Intermediate Accounting Exam 2 Review with Complete Solutions | Verified & Updated Depreciation is not a matter of valuation - It is a process of cost allocation. Book value = - Carrying Value = Historical (original) cost - Accumulated depreciation What does the balance sheet show for the value of a depreciable asset? - Book value What are the types of depreciation? - 1.) Straight-line Method 2.) Accelerated Depreciation 3.) Double Declining-Balance Method 4.) Sum-of-the-years'-digits M...

Depreciation CORRECT ANSWER Assets that decrease in value over time. US Federal Income Tax law permits reasonable deductions for depreciation. This involves borrowing and utilizing money which is to be repaid at a later point in time. CORRECT ANSWER Debit Financing What is the benefit to debt financing under current U.S tax law (as of December 2008)? CORRECT ANSWER Interests payments made by corporations on debit capital are tax deductible. Under this type of financing the lender acquir...

Corporate Finance Exam Questions With Correct Answers a company that utilizes the MACRS system of depreciation will have a greater taxs shield in year two of a project than it would have if the firm had opted for straight-line depreciation a project has a discounted payback period that is equal to the required payback period. Given this which of the following statements must be true? The projec tmust also be acceptable under the payback rule AND The project must have a profitability inde...

Fin 480 test practice Exam Questions And Answers 100% Verified A firm has sales of $1,310, net income of $241, net fixed assets of $501, and current assets of $301. The firm has $97 in inventory. What is the common-size statement value of inventory? 12.1 percent - answer12.1 percent Common-size inventory = $97/($501 + $301) = 12.1 percent What is the quick ratio for 2009? - answer.80 Quick ratio for 2009 = ($2,450 - $1,530)/$1,150 = 0.8 What is the debt-equity ratio for 2009? - answer.38...

TAX ACCOUNTING EXAM 3 Land improvements are generally not eligible for cost recovery. True False Rationale: Land improvements are 15-year class property. The § 179 deduction can exceed $500,000 in 2015 if the taxpayer had a § 179 amount which exceeded the taxable income limitation in the prior year. True False Rationale: The § 179 amount eligible for expensing in a carryforward year is limited to the lesser of (1) the statutory dollar amount ($500,000 in 2015 and 2014) reduced by ...

Fin 480 test practice Exam Questions And Answers 100% Verified A firm has sales of $1,310, net income of $241, net fixed assets of $501, and current assets of $301. The firm has $97 in inventory. What is the common-size statement value of inventory? 12.1 percent - answer12.1 percent Common-size inventory = $97/($501 + $301) = 12.1 percent What is the quick ratio for 2009? - answer.80 Quick ratio for 2009 = ($2,450 - $1,530)/$1,150 = 0.8 What is the debt-equity ratio for 2009? - answer.38...

These feature debt securities or instruments with maturities of one year or less. correct answers money markets This is the ease with which an asset can be converted into cash. correct answers liquidity For a household, according to U.S. accounting procedures, which of the following is considered an investment? correct answers home Which of the following is the market-established worth of a product or a financial instrument? correct answers market value The higher one's tax bracket,...

H&R Block Income Tax Course QUESTIONS AND ANSWERS ALL VERIFIED H&R Block Income Tax Course Circular 230 - ANS Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANS The release of tax information by an IRS employee. Due Diligence - ANS Requirements that tax professionals must follow when preparing income tax returns. Noncompliance - ANS Failure or refusal to co...

Chapter 18 leasing and financing Chapter 19 Mini Case in Financial Management Lewis Securities Inc Read the Chapter 19 Mini Case in Financial Management: Theory and Practice. Using complete sentences and academic vocabulary, please answer questions a through f. Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either disp...