Please I need help this one ASAP 6 "A company bought a machine for $100,000. The...
Please I need help this one ASAP
6 "A company bought a machine for $100,000. The machine was
depreciated using a 5 year MACRS approach. After 4 years, the
machine was sold at a salvage value of $91,300. Assuming a tax rate
of 21%, what are the net proceeds from the sale of the
machine?
(Hint: You will want to take your salvage values and add/subtract
gains due to the sale.)"
Homework Answers
book value at the end of year 4
= cost - accumulated depreciation
= 100000 - 100000 * (0.2+0.32+0.1920+0.1152)
= 17280
Tax on sale = (91300 - 17280) * 0.21
= 15544.2
net proceeds from sale
= 91300 - 15544.2
= 75755.8
Add Answer to:
Please I need help this one ASAP
6 "A company bought a machine for $100,000. The...
Please I need help this one ASAP 3. "You want to design your office. For this...
Please I need help this one ASAP 3. "You want to design your office. For this purpose, your purchased office furniture for $37,000, paid $4,900 for its freight and $1200 for installation. What is the tax depreciation amount you can take in year 5? (Assume a 7-Year MACRS)"
One company bought a milling machine for $ 100,000. The company has the intention to use...
One company bought a milling machine for $ 100,000. The company has the intention to use the machine for the next 5 years. The machine is expected to save the company $ 35,000 during the first year of operation. From then on the annual savings are expected decrease 3% every year due to maintenance costs. Assuming an operation of 3,000 hours per year and that the machine will have no residual value ("Salvage Value") at the end of the 5...
I need this solved step by by step please by hand. Please no Excel. Thank You!...
I
need this solved step by by step please by hand. Please no Excel.
Thank You!
6) (28 points) A company is considering a replacement for an aging machine that has been fully depreciated for tax purposes. The new machine will have an initial cost of $400,000 and is expected to generate an income of $125,000 per year. Its estimated salvage value at the end of its useful life of 4 years will be $60,000. The new machine is a...
USE THE FOLLOWING INFORMATION FOR THE NEXT 3 QUESTIONS ABC Company bought a new machine that cost $500,000 on 1/1/1...
USE THE FOLLOWING INFORMATION FOR THE NEXT 3 QUESTIONS ABC Company bought a new machine that cost $500,000 on 1/1/15. The machine had a useful me of 10 years. ABC Company used straight-line depreciation with an estimated salvage value of SO. ABC Company is subject to an income tax rate of 40%. ABC Company sold the machine on 171718 (after using the machine for exactly 3 full years. In the next 3 questions, you are to determine the Net Cash...
Please I need help this one ASAP 1. "Consider the following data on an asset Cost...
Please I need help this one ASAP 1. "Consider the following data on an asset Cost of the asset, I = $263,000 Useful life, N = 6 years Salvage value, S = $64,000 Compute the annual depreciation amount using the straight-line depreciation method."
I need this done asap. Please help me solve this. Thanks. Due in 1 hour. Disposal of Fixed Asset Equipment acquired on...
I need this done asap. Please help me solve this. Thanks. Due in
1 hour.
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $154,600 has an estimated useful life of 7 years and an estimated residual value of $20,200. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 Year 2 Year 3 b. What was the book value of the equipment...
Need help solving this one! Damerly Company (a Utah employer) wants to give a holiday bonus...
Need help solving this one!
Damerly Company (a Utah employer) wants to give a holiday bonus check of $175 to each employee. Since it wants the check amount to be $175, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate),...
detailed explanation need for q2 and q3. for q3, I don't understand why can't we use...
detailed explanation need for q2 and q3. for q3, I don't understand
why can't we use the beta of 1.2 instead of use dell’s beta? thank
you! for q 2 we use the year 4 rate 7.41% of the 3 year
depreciation state is it because the asset was bought 3 years ago
so this year is considering to be the 4th? so confused
2. A piece of asset was bought at $300 three years ago. The depreciation follows a...
I need help determining the present value of the costs for machine A. Esquire Company needs...
I need help determining the present value of the costs for machine A. Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. The company has determined the following: Machine A could be purchased for $49887. It will last 10 years with annual maintenance costs of $1191 per year. After 10 years the machine can be sold for $5101. Machine B could...
i need help with this questions please asap Safeco Inc has no debt, and maintains a...
i need help with this questions please asap
Safeco Inc has no debt, and maintains a policy of holding $12 million in excess cash reserves, invested in risk free Treasury securities If Safeco pays a corporate tax rate of 32% what is the cost of permanenty maintaining this S12 million reserve? Hnt what is the present value of the additional taxes that Sale o wil pay? The cost of permanently maintaining this reserve is S million (Round to two decimal...
I
need this solved step by by step please by hand. Please no Excel.
Thank You!
6) (28 points) A company is considering a replacement for an aging machine that has been fully depreciated for tax purposes. The new machine will have an initial cost of $400,000 and is expected to generate an income of $125,000 per year. Its estimated salvage value at the end of its useful life of 4 years will be $60,000. The new machine is a...
USE THE FOLLOWING INFORMATION FOR THE NEXT 3 QUESTIONS ABC Company bought a new machine that cost $500,000 on 1/1/15. The machine had a useful me of 10 years. ABC Company used straight-line depreciation with an estimated salvage value of SO. ABC Company is subject to an income tax rate of 40%. ABC Company sold the machine on 171718 (after using the machine for exactly 3 full years. In the next 3 questions, you are to determine the Net Cash...
I need this done asap. Please help me solve this. Thanks. Due in
1 hour.
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $154,600 has an estimated useful life of 7 years and an estimated residual value of $20,200. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 Year 2 Year 3 b. What was the book value of the equipment...
Need help solving this one!
Damerly Company (a Utah employer) wants to give a holiday bonus check of $175 to each employee. Since it wants the check amount to be $175, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate),...
detailed explanation need for q2 and q3. for q3, I don't understand
why can't we use the beta of 1.2 instead of use dell’s beta? thank
you! for q 2 we use the year 4 rate 7.41% of the 3 year
depreciation state is it because the asset was bought 3 years ago
so this year is considering to be the 4th? so confused
2. A piece of asset was bought at $300 three years ago. The depreciation follows a...
i need help with this questions please asap
Safeco Inc has no debt, and maintains a policy of holding $12 million in excess cash reserves, invested in risk free Treasury securities If Safeco pays a corporate tax rate of 32% what is the cost of permanenty maintaining this S12 million reserve? Hnt what is the present value of the additional taxes that Sale o wil pay? The cost of permanently maintaining this reserve is S million (Round to two decimal...
Most questions answered within 3 hours.
-
6.) A clay vase on a potter's wheel experiences an angular
acceleration of 7.90 rad/s2 due...
asked 6 minutes ago -
How does procurement play a role in the value chain process?
Give an example.
asked 6 minutes ago -
Question about JS form validation:
I want to check these two input (name, question) with
one...
asked 8 minutes ago -
Acetic acid, CH3COOH, Ka = 1.8 x 10-5 can be converted
into the acetate ion, CH3COO-2,...
asked 10 minutes ago -
An optical fiber consisting of a core made of glass (n = 1.667)
surrounded by a...
asked 12 minutes ago -
Bright and dark fringes are seen on a screen when light from a
single source reaches...
asked 20 minutes ago -
C9H12
13C NMR
7 peaks
1H NMR
δ 1.13 (triplet, 3H); δ 1.71 (multiplet, 2H); δ...
asked 31 minutes ago -
Consider a monoatomic ideal gas undergoing the following cycle:
starting point (a), pressure increases at a...
asked 31 minutes ago -
10) (a) In a hypothesis testing procedure explain the difference
between a type 1 and type...
asked 33 minutes ago -
Given the line notation, identify the anodic and
cathodic reactions and overall reaction:
Ag(s)| AgCl(s) |...
asked 54 minutes ago -
The money raised and spent (both in millions of dollars) by
all congressional campaigns for 8...
asked 57 minutes ago -
Annual salaries for employees in a large company are
approximately normally distributed with a mean of...
asked 1 hour ago