User Account

All Pages

Calculate book value of an asset

Assignment Help Financial Accounting
Reference no: EM132955060

Question - Genetic Insights Co. purchases an asset for $18,391. This asset qualifies as a seven-year recovery asset under MACRS. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6 are 14.29%, 24.49%, 17.49%, 12.49%, 8.93%, and 8.93%, respectively. Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $4,995. Calculate book value of an asset.

Reference no: EM132955060

Questions Cloud

What is fox current year earnings per common share : What is Fox's current year earnings per common share? Fox Co. had 300,000 shares of common stock issued and outstanding at December 31, the previous year-end.
Find the conventional cost-to-retail percentage : Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Find the conventional cost-to-retail percentage
What is the portfolio weight of stock A : Stock A has an expected return of 10.6% while stock B has an expected return of 5.7%. What is the portfolio weight of stock A
Calculate the sensitivity of the project : Sales revenue of $600m pa will be generated at a variable cost of $350m. Annual fixed costs will increase by $40m. Calculate the sensitivity of the project
Calculate book value of an asset : Genetic Insights Co. purchases an asset for $18,391. This asset qualifies as a seven-year recovery asset under MACRS. Calculate book value of an asset
Determine the cost of goods manufactured during the year : Factory overhead cost was applied at 120% of direct labor cost. Determine the cost of goods manufactured during the year
What is the direct materials quantity variance : During February, Oxford Co. paid $57,220 for 4,840 pounds, which were used to produce 2,400 units. What is the direct materials quantity variance
What is Freddy recognized gain on the distribution of land : The FMV of the land at the time of contribution $50,000 and Freddy's basis was $35,000. What is Freddy recognized gain on the distribution of land
What is the change in net working capital : Murphy's Outlet has the following balance sheets: Liabilities and Equity Accounts payable $1,414 $1,632. What is the change in net working capital

Reviews

Write a Review

Financial Accounting Questions & Answers

  Cash balance items listed in its trial balance

Wilson Company had the following cash balance items listed in its trial balance at 12/31/2016: Peterson Savings and Loan: $50,000 Right Bank: ( 5,000) Clinton County Trust Bank: 10,000 If Wilson reports under IFRS, its 12/31/2016 balance sheet would ..

  What is the correct balance of trade accounts receivable

What is the correct balance of trade accounts receivable? Postdated checks from customers for merchandise sold to them 200,000

  Compute each companys economic-value-added measure

Compute each company's economic-value-added (EVA) measure and determine whether the companies' EVA®s confirm or alter your investment decision. Each company's cost of capital is 6%.

  Calculate the irr of the previous project

Calculate the IRR of the previous project. Justify for what type of discount this investment will be made. An initial disbursement of € 2,000,000

  How much is the appropriation for treasury shares

Assuming no other treasury share transactions occurred after, how much is the appropriation for treasury shares by the end of the year

  What will eps have to be equal to in year three

What will EPS have to be equal to in year 3 for you to get a 12% return on your investment? What will the share be worth then?

  Calculate the cash flow from operating

Calculate the cash flow from operating, investing and financing activities, and the net change in cash for Bronze Corporation based on data.

  Explain the importance of non-financial performance

Explain the importance of non-financial performance indicators in the modern competitive business environment, supporting your discussion with relevant

  Calculation of diluted eps

The bonds converted into common stock on 1 April of the current year, and basic EPS properly reflects the common shares outstanding since 1 April.

  Determine the value of the levered firm

Assuming the federal-plus-state corporate tax rate is 25%, use the MM model with corporate taxes to determine the value of the levered firm

  Uses the perpetual method and records merchandise at net

MoCo begins operations in April, uses the perpetual method, and records merchandise at net. MoCo makes two purchases on account Terms are 1/15,n/45. on April 4, MoCo purchases merchandise for $3,000, which it pays on April 16. On April 11 makes a $9,..

  Net income and earnings per share

Evaluate each of the following for every alternative Net income and Earnings per share.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd