Homework Answers
Book value as on date of sale=Cost-Accumulated Depreciation
=65000*(1-0.2-0.32)=$31200
Hence gain on sale=44500-31200
=$13300
After-tax salvage value=Sale proceeds-(Tax rate*gain on sale)
=44500-(13300*34%)
=$39978
Add Answer to:
Use the table below to answer this question 1 MACRS 5-year property Year Rate 20.00% 2...
Question 15 Consider a loan for $300,000 with 20 annual payment and an interest rate of...
Question 15 Consider a loan for $300,000 with 20 annual payment and an interest rate of 5%. What is the payment amount with a balloon payment of $35,000? $22,107.01 $22,409.43 $22,711.86 $23,014,29 $25,131.27 Moving to another question will save this response. esc 8. 7 DOO 74 FB TO F3 F2 A # 3 $ 4 % 5 & 7 * c 6 2 9 8 0 W Q E R. T 0 Y U Use the table below to answer...
Bernie's Beverages purchased some fixed assets classified as 5-year property for MACRS. The assets cost $28,000....
Bernie's Beverages purchased some fixed assets classified as 5-year property for MACRS. The assets cost $28,000. What will the accumulated depreciation be at the end of year three? MACRS 5-year property Year Rate 1 20.00% 2 32.00% 3 19.20% 4 11.52% 5 11.52% 6 5.76%
Edward's Manufactured Homes purchased some machinery 2 years ago for $48,000. The assets are classified as...
Edward's Manufactured Homes purchased some machinery 2 years ago for $48,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $16,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent? MACRS 5-year property Year Rate 1 20.00%...
Edward's Manufactured Homes purchased some machinery 2 years ago for $43,000. The assets are classified as...
Edward's Manufactured Homes purchased some machinery 2 years ago for $43,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $17,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent? MACRS 5-year property Year Rate 20.00% 32.00%...
Three years ago Weather Tec purchased some five-year MACRS property for $82,600. Today, it is selling...
Three years ago Weather Tec purchased some five-year MACRS property for $82,600. Today, it is selling this property for $31,500. How much tax will the company owe on this sale if the tax rate is 34 percent? The MACRS allowance percentages are as follows, commencing with Year 1: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.
You just purchased some equipment that is classified as 5-year property for MACRS. The equipment cost...
You just purchased some equipment that is classified as 5-year property for MACRS. The equipment cost $173,000. What will the book value of this equipment be at the end of 4 years should you decide to resell the equipment at that point in time? Do not include the $ sign, and round it to a whole dollar. MACRS 5-year property Year Rate 1 20.00% 2 32.00% 3 19.20% 4 11.52% 5 11.52% 6 5.76%
You just purchased some equipment that is classified as 5-year property for MACRS. The equipment cost...
You just purchased some equipment that is classified as 5-year property for MACRS. The equipment cost $79,000. What will the book value of this equipment be at the end of two years should you decide to resell the equipment at that point in time? MACRS 5-year Property Year Rate 1 20.00% 2 32.00% 3 19.20% 4 11.52% 5 11.52% 6 5.76% Group of answer choices $56,248 $41,080 $37,920 $5,056 $22,752
MACRS Depreciation Allowances Property Class 3-Year 5-Year 33.33% 20.00% 44.45 32.00 14.81 19.20 7.41 11.52 7-Year...
MACRS Depreciation Allowances Property Class 3-Year 5-Year 33.33% 20.00% 44.45 32.00 14.81 19.20 7.41 11.52 7-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 11.52 5.76 Use the following information to answer the next three questions: Some new equipment under consideration will cost $1,600,000 and will be used for 7 years. Net working capital will experience a one time increase of $778,000 if the equipment is purchased. The equipment is expected to generate annual revenues of $2,300,000 and annual costs...
Consider the following MACRS Table for a 5-year asset. If an asset is purchased for $100,000;...
Consider the following MACRS Table for a 5-year asset. If an asset is purchased for $100,000; with a shipping and istallation cost of $10,000 and an expected salvage value of $20,000; what is the depreciation expense in the second year? I need to know the steps with a BA ll plus calculator if needed. Year Exp. Ratio 1 20.00 2 32.00 3 19.20 4 11.52 5 11.52 6 5.76 $ 35,200.00 $ 32,000.00 $ 28,800.00 $ 25,600.00
Complete the (4) depreciation tables/caclulations below using the following MACRS table: YEAR 3-YEAR 33.33% 44.45% 14.81%...
Complete the (4) depreciation tables/caclulations below using the following MACRS table: YEAR 3-YEAR 33.33% 44.45% 14.81% 7.41% 5-YEAR 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% 7-YEAR 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% 100.00% 100.00% 100.00% 1. During 2012, Axel Corporation purchases new machinery (5-year property) for $200,000 and decides not to take a Section 179 deduction. a. Computer maximum tax depreciation for the machinery for 2012-2017. Year Depreciation calculation Dep. Exp. 2012 2012 2013 2014 2015 2016 2017 Total...
Question 15 Consider a loan for $300,000 with 20 annual payment and an interest rate of 5%. What is the payment amount with a balloon payment of $35,000? $22,107.01 $22,409.43 $22,711.86 $23,014,29 $25,131.27 Moving to another question will save this response. esc 8. 7 DOO 74 FB TO F3 F2 A # 3 $ 4 % 5 & 7 * c 6 2 9 8 0 W Q E R. T 0 Y U Use the table below to answer...
Edward's Manufactured Homes purchased some machinery 2 years ago for $43,000. The assets are classified as 5-year property for MACRS. The company is replacing this machinery today with newer machines that utilize the latest in technology. The old machines are being sold for $17,000 to a foreign firm for use in its production facility in South America. What is the aftertax salvage value from this sale if the tax rate is 34 percent? MACRS 5-year property Year Rate 20.00% 32.00%...
Three years ago Weather Tec purchased some five-year MACRS property for $82,600. Today, it is selling this property for $31,500. How much tax will the company owe on this sale if the tax rate is 34 percent? The MACRS allowance percentages are as follows, commencing with Year 1: 20.00, 32.00, 19.20, 11.52, 11.52, and 5.76 percent.
MACRS Depreciation Allowances Property Class 3-Year 5-Year 33.33% 20.00% 44.45 32.00 14.81 19.20 7.41 11.52 7-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46 11.52 5.76 Use the following information to answer the next three questions: Some new equipment under consideration will cost $1,600,000 and will be used for 7 years. Net working capital will experience a one time increase of $778,000 if the equipment is purchased. The equipment is expected to generate annual revenues of $2,300,000 and annual costs...
Complete the (4) depreciation tables/caclulations below using the following MACRS table: YEAR 3-YEAR 33.33% 44.45% 14.81% 7.41% 5-YEAR 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% 7-YEAR 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% 100.00% 100.00% 100.00% 1. During 2012, Axel Corporation purchases new machinery (5-year property) for $200,000 and decides not to take a Section 179 deduction. a. Computer maximum tax depreciation for the machinery for 2012-2017. Year Depreciation calculation Dep. Exp. 2012 2012 2013 2014 2015 2016 2017 Total...
Most questions answered within 3 hours.
-
A local
electronic company primarily manufactures four highly technical
telecommunication products. Each product must be processed...
asked 30 minutes ago -
•Describe the basic structure of collagen monomers •Explain how
amino acid composition of collagen contributes to...
asked 2 hours ago -
Compute the sample correlation coefficient
r for each of the following data sets.
(Use 3 decimal...
asked 2 hours ago -
5a. What are the advantages and disadvantages of Proxy ARP?
b. What is the TTL field...
asked 2 hours ago -
An ice cube (density = 900[kg/m3]) with a side length of
2.54[cm] is held by a...
asked 4 hours ago -
would you say that leaders in the international context are born
or made? That is, can...
asked 4 hours ago -
Instructions
Read the Digital Trends article "Solid state drives are speedier
than hard disk drives. Are...
asked 4 hours ago -
A multiple-choice test consists of 29 questions with possible
answers of a, b, c, d. Estimate...
asked 4 hours ago -
Question 1: Ethanol is the active ingredient of alcoholic
beverages. It is also s a possible...
asked 4 hours ago -
In the process of a simple distillation, the substances in the
still head tube are in...
asked 4 hours ago -
In a normal distribution with mean 3 and standard deviation of
7, what are the upper...
asked 5 hours ago -
A big block stone with mass M explodes and splits in two pieces
with mass 0.40M...
asked 5 hours ago