Exercise 4 Answer Key
Part 1: INCOME TAX MANAGEMENT (15 Points)
Complete the lines below for the indicated Internal Revenue Service (IRS) forms. Assume
the return is for a married couple filing jointly, with two children.
Schedule F-Profit or Los
Module 3 Exercise - Key
1. What is an enterprise budget?
An enterprise budget is an economic budget that takes into considerations all economic revenues and costs of
one specific activity in the operation and is calculated on a per unit basis. En
Exercise 2 - 30 Points
PART 1 (10 Points): DEPRECIATION
A. Assume you own the machinery above. Calculate the annual depreciation expense using the
straight-line method. Assume all machinery is bought at the first of the year.