Homework Answers
| 1) | |
| For a 5-year asset, the depreciation rate is 20% for the first year. | |
| Depreciation expenses = 77300 x 20% | $ 15,460.00 |
| 2) | |
| Pretax income income = $422000 -15460 | $ 4,06,540.00 |
| Corporate Income falls under 34% bracket so | |
| Tax Savings = $15460 x 34% | $ 5,256.40 |
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Tables attached in photos This Quiz: 8 pts possi MACRS depreciation expense and accounting cash flow...
tax rate schedule , i cant figure it out MACRS depreciation expense and accounting cash flow...
tax rate schedule , i cant figure it out
MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker of precision telescopes, expects to report pretax income of $430,000 this year. The company's financial manager is considering the timing of a purchase of new computerized lens grinders. The grinders will have an installed cost of $82,900 and a cost recovery period of 5 years. They will be depreciated using the MACRS schedule Corporate tax rates are given i...
Please complete Part B MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker...
Please complete Part B
MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker of precision telescopes, expects to report pretax income of $425,000 this year. The company's financial manager is considering the timing of a purchase of new computerized lens grinders. The grinders will have an installed cost of $78,500 and a cost recovery period of 5 years. They will be depreciated using the MACRS schedule A. Corporate tax rates are given A a. If the firm...
10 years 10% Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes...
10 years 10% Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 7% 12% 12% 12% 9% 9% 18% 14% co VOU AWN- 4% Totals 100% 100% 100% 100% *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure...
inwasted this question for a wrong answer can someone give me the correct answers please. updated...
inwasted this question for a wrong answer can someone give me the
correct answers please.
updated information
this is the only info provided on this exercise the chart is for
(a) and (b). nothing for (c) just show to resolve.
Exercise 17-26 (Algorithmic) (LO. 3) Compute the income tax liability for each of the following unrelated calendar year C corporations. Click here to access the tax table to use for part (a) and (b) of this problem. a. In 2017,...
TABLE 2.1 Corporate Tax Rate Schedule + + + + Range of taxable income 0 to...
TABLE 2.1 Corporate Tax Rate Schedule + + + + Range of taxable income 0 to $ 50,000 50,000 to 75,000 75,000 to 100,000 100,000 to 335,000 335,000 to 10,000,000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax $ 0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 Tax calculation (Marginal rate X amount over base bracket) (15% X amount over $ 0) (25 X amount over 50,000) (34 X amount over 75,000 amount over 100,000) amount over 335,000)...
Please show all the steps you've done to reach the final answer. I am trying to...
Please show all the steps you've done to reach the final
answer. I am trying to learn, so please show your work. Typing your
answer is important
A division of Midland Oil & Gas has a TI of $8.95 million
for a tax year. If the state tax rate averages 5% for all states in
which the corporation operates, find the equivalent after-tax ROR
for a before-tax return of 22% per year.
TABLE 17-1 U.S. Corporate Income Tax Rate Schedule...
Owl is a closely held corporation owned by 8 shareholders (each has 12.5% of the stock)....
Owl is a closely held corporation owned by 8 shareholders (each
has 12.5% of the stock). Selected financial information provided by
Owl follows:
Taxable income $6,250,000
Positive AMT adjustments (excluding ACE adjustment) 600,000
Negative AMT adjustments (30,000) Tax preferences 5,000,000
Retained earnings 900,000 Accumulated E & P 2,000,000
ACE adjustment 750,000
a. If Owl is a C corporation, compute the following:
Regular Federal income tax liability:
$ Alternative minimum taxable income (AMTI):
Alternate minimum tax (AMT):
Please provide the calculations....
P2-1 Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of...
P2-1 Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2013, the firm earned $92,500 before taxes. Calculate the firm's tax liability using the corporate tax rate schedule given in Table 2.1. How much are Tantor Supply's 2013 after-tax earnings? What was the firm's average tax rate, based on your findings in part a? What was the firm's marginal tax rate, based on your findings in part...
Given the information provided below, perform your own calculations to show the amount of corporate tax...
Given the information provided below, perform your own calculations to show the amount of corporate tax paid for each of the four (4) fiscal years covered in the table above. Is there a pattern? Explain the pattern and what it may suggest about the future performance of the organization. How can this conclusion advise investors and organizational decision makers? If there was a 20% reduction in the Gross Profit for fiscal year 6/12 - 5/13, how might this have changed...
Account Balance ($) 0 to 50,000 15% 50,000 to 75,000 $7,500 + 25% of the amount...
Account Balance ($) 0 to 50,000 15% 50,000 to 75,000 $7,500 + 25% of the amount over 50,000 75,000 to 100,000 $13,750 + 34% of the amount over 75,000 100,000 to 335,000 $22,250 + 39% of the amount over 100,000 335,000 to 10,000,000 $113,900 + 34% of the amount over 335,000 10,000,000 to 15,000,000 $3,400,000 + 35% of the amount over 10,000,000 15,000,000 to 18,333,333 $5,150,000 + 38% of the amount over 15,000,000 18,333,333 and up 35% Fiscal Year Gross...
tax rate schedule , i cant figure it out
MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker of precision telescopes, expects to report pretax income of $430,000 this year. The company's financial manager is considering the timing of a purchase of new computerized lens grinders. The grinders will have an installed cost of $82,900 and a cost recovery period of 5 years. They will be depreciated using the MACRS schedule Corporate tax rates are given i...
Please complete Part B
MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker of precision telescopes, expects to report pretax income of $425,000 this year. The company's financial manager is considering the timing of a purchase of new computerized lens grinders. The grinders will have an installed cost of $78,500 and a cost recovery period of 5 years. They will be depreciated using the MACRS schedule A. Corporate tax rates are given A a. If the firm...
10 years 10% Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 7% 12% 12% 12% 9% 9% 18% 14% co VOU AWN- 4% Totals 100% 100% 100% 100% *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure...
inwasted this question for a wrong answer can someone give me the
correct answers please.
updated information
this is the only info provided on this exercise the chart is for
(a) and (b). nothing for (c) just show to resolve.
Exercise 17-26 (Algorithmic) (LO. 3) Compute the income tax liability for each of the following unrelated calendar year C corporations. Click here to access the tax table to use for part (a) and (b) of this problem. a. In 2017,...
TABLE 2.1 Corporate Tax Rate Schedule + + + + Range of taxable income 0 to $ 50,000 50,000 to 75,000 75,000 to 100,000 100,000 to 335,000 335,000 to 10,000,000 10,000,000 to 15,000,000 15,000,000 to 18,333,333 Over 18,333,333 Base tax $ 0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 Tax calculation (Marginal rate X amount over base bracket) (15% X amount over $ 0) (25 X amount over 50,000) (34 X amount over 75,000 amount over 100,000) amount over 335,000)...
Please show all the steps you've done to reach the final
answer. I am trying to learn, so please show your work. Typing your
answer is important
A division of Midland Oil & Gas has a TI of $8.95 million
for a tax year. If the state tax rate averages 5% for all states in
which the corporation operates, find the equivalent after-tax ROR
for a before-tax return of 22% per year.
TABLE 17-1 U.S. Corporate Income Tax Rate Schedule...
Owl is a closely held corporation owned by 8 shareholders (each
has 12.5% of the stock). Selected financial information provided by
Owl follows:
Taxable income $6,250,000
Positive AMT adjustments (excluding ACE adjustment) 600,000
Negative AMT adjustments (30,000) Tax preferences 5,000,000
Retained earnings 900,000 Accumulated E & P 2,000,000
ACE adjustment 750,000
a. If Owl is a C corporation, compute the following:
Regular Federal income tax liability:
$ Alternative minimum taxable income (AMTI):
Alternate minimum tax (AMT):
Please provide the calculations....
P2-1 Corporate taxes Tantor Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2013, the firm earned $92,500 before taxes. Calculate the firm's tax liability using the corporate tax rate schedule given in Table 2.1. How much are Tantor Supply's 2013 after-tax earnings? What was the firm's average tax rate, based on your findings in part a? What was the firm's marginal tax rate, based on your findings in part...
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