Determine whether the asset is personal property—essentially anything not attached to or associated with land. The mid-quarter convention applies to personal property. Choose a recovery period available under MACRS that is appropriate for the asset in question; three-, five-, seven-,10-, 15- an...
The gross domestic product (GDP) of a nation is an estimate of the total value of all the goods and services it produces during a specific period, usually a quarter or a year. Its greatest use is as a point of comparison; for example, to determine if the nation's economy grew or con...
You will use the mid-quarter convention if you purchased more than 40 percent of the assets in the final quarter of the year, or the half-year convention if not. Mid-quarter means that you will treat the asset as though you placed it into service at the midpoint of the quarter in whi...
Gross profit calculates thegross profit margin, a metric that evaluates a company's production efficiency over time. It measures how much money is earned from sales after subtracting COGS, showing the profit earned on each dollar of sales. Comparing gross profits year to year or quarter to quart...
For example, in the quarter ending June 30, 2023, United Parcel Service’s long-term debt was $19.35 billion and its total stockholders’ equity was $20.0 billion. The company’s D/E for the quarter was 0.97.7 A high debt/equity ratio generally indicates that a company has been aggressiv...