Modified accelerated cost recovery system (macrs), listed property, limitation on depreciation of luxury automobiles (lo 7.4, 7.6, 7.7) during 2017, palo fiero purchases the following property for use in his calendar year-end manufacturing business: item date acquired cost manufacturing equipment (7 year) june 2 $38,000 office furniture september 15 5,400 office computer november 18 3,800 passenger automobile (used 90 percent for business) may 31 35,600 warehouse april 23 building 170,000 land 135,000 palo uses the accelerated depreciation method under macrs, if available, and does not make the election to expense or take a bonus depreciation. use form 4562 to report palo's depreciation expense for 2017. enter all amounts as positive numbers. if required, round to the nearest dollar. if an amount is zero, enter "0". click on the following links to access: depreciation tables annual automobile depreciation limitations table 7.1: recovery periods for assets placed in service after 1986.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.