Cactus company purchased a new machine on august 1, 2017. at that time, the original cost of the machine was recorded at $180,000 with an estimated salvage value of $20,000. total service hours expected for this machine is 100,000. during 2017, the machine was used for 825 hours. during 2018, the machine was used for 3,115 hours.

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

According to management education expert ashok rao, companies can increase their profitability by through careful inventory management. a. 5% to 10% b. 10% to 25% c. 20% to 50% d. 75%

Ski powder resort ends its fiscal year on april 30. the business adjusts its accounts monthly, but closes them only at year-end (april 30). the resort's busy season is from december 1 through march 31. adrian pride, the resort's chief financial officer, the museums a close watch on lift ticket revenue and cash. the balances of these accounts at the end of each of the last five months are as follows: