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On 1st of January 2019, a corporation buys some large machinery to produce shampoo which costs $120,000. It's useful life is 6 years and salvage value is $5,000. Their year ends on 31 December.
Required:
Question a. Calculate the depreciation expense for 2019 using straight-line method for depreciation.
Question b. Calculate the depreciation expense for 2019 using the declining method of depreciation with a 25% rate.
Question c. Bulgarian corporate tax rate is 10% Norway's corporate tax rate is 23% Do Norway corporations have a higher incentive to choose a declining method of depreciation? Whatever you answer is, why? (no calculations are necessary to answer c.)
One investment pays 13% simple interest and another 9% compounded annually. Which investment would you choose and why? (Please explain and show work if any)
Exercisable at the option price of $25 per share: average market price in 2011, $30 84000 shares instructions compute (a) basic earnings per share, nd (b) diluted earnings per share.
an individual taxpayer in the 35% marginal bracket, also owns 25% of Marmont's stock. Compare and contrast the treatment of the dividend by Otter Corporation and Gerald.
Briefly discuss whether the company's first month of operations was a success - In June, the company issued no additional stock but paid dividends of $1,400
Assume 30% tax rate, determine the after-tax LIFO liquidation profit or loss for 2021, Hazzee Corporation uses a periodic inventory system
On January 1, 2016, Wright Transport sold four school busses to the Elmira School District. In exchange for the buses, Wright received a note requiring payment of $515,000 by Elmira on December 31, 2018. The effective interest rate is 8%. How much sa..
In each of the following cases, discuss how you, as a portfolio manager, could use financial futures to protect a portfolio. You own a large position in a relatively illiquid bond that you want to sell. You have a large gain on one of your long Treas..
calculate the current tax expense [ Select ] ["262,500", "367,500", "315,000", "420,000"] , deferred tax expense [ Select ] ["52,500", "-52,500", "35,000", "50,000"] and determine the ending deferred tax asset or liability [ Select ] ["17,500 Deferre..
Wheat Corp. issued 10,000 shares of its $1 par value common stock for a building. The building was listed for sale at $500,000. Wheat’s common stock is currently selling for $45 per share. Prepare the journal entry.
If the first payment is due in 4 years and interest is 3.8% compounded monthly, what sum of money must be deposited in the scholarship fund today?
Although partnerships are flow-through entities, partner-partnership, partner-partner, and partner-external party transactions may have tax implications. Discuss the tax implications of each type of transaction. Focus on how gains may be triggered in..
You need a particular piece of equipment for your production process. An equipment-leasing company has offered to lease you the equipment
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