Englehard purchases a slurry-based separator for the mining of clay that costs $700,000 and has an estimated usefullife of 10 years, a MACRS-GDS property class of 7 years, and an estimated salvage value of $75,000 after 10 years. It was financed using a $200,000 down payment and a loan of $500,000 over a period of 5 years with interest at10 percent. Loan payments are made in equal annual amounts (principal plus interest) over the 5 years.

a. What is the amount of the MACRS-GDS depreciation taken in the third year?
b. What is the book value at the end of the third year?
c. Returning to the original situation, what is the amount of the MACRS-GDS depreciation taken in the third yearif the separator is also sold during the third year?

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Richardson hired j.c. flood company, a plumbing contractor, to correct a stoppage in the sewer line of her house. the plumbing company's 'snake' device, used to clear the line leading to the main sewer, became caught in the underground line. to release it, the company excavated a portion of the sewer line in richardson's backyard. in the process, the company discovered numerous leaks in a rusty, defective water pipe that ran parallel with the sewer line. to meet public regulations, the water pipe, of a type no longer approved for such service, had to be replaced either then or later, when the yard would have to be excavated again. the plumbing company proceeded to repair the water pipe. though richardson inspected the company's work daily and did not express any objection to the extra work involved in replacing the water pipe, she refused to pay any part of the total bill after the company completed the entire operation. j.c. flood company then sued richardson for the costs of labor and material it had furnished. (c) for what, if anything, should richardson be liable? explain."