User Account

All Pages

Calculate gain or loss on disposal

Assignment Help Financial Accounting
Reference no: EM132860793

Problem - Genetic Insights Co. purchases an asset for $15,670. 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 $3,586. Calculate gain or loss on disposal.

Reference no: EM132860793

Questions Cloud

Caterpillar short-term and long-term goals : Determine the most critical merger or acquisition that has contributed to Caterpillar's performance and success in achieving organizational goals.
Present financial services industry in oman : Compare the different types of Oman financial services providers and products and Analyse the effects of changes and trends in the market place on both provider
Achieving a sustainable competitive advantage : Because a firm's resources and capabilities play a dominant role in achieving a sustainable competitive advantage
What is a false discovery rate : What is a false discovery rate? Can a false discovery rate be completely avoided? Explain. What was the outcome of the results of the use case?
Calculate gain or loss on disposal : Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,586. Calculate gain or loss on disposal
Case study-caledon concrete mixers : This a rich case that provides an opportunity to delve into a number of issues, including supplier evaluation systems and trade-offs between service and quality
Discuss cluster analysis concepts : How does data and classifying data impact data mining? What is association in data mining? Explain what an anomaly is and how to avoid it.
Write cover letter and a resume for specific job posting : Write cover letter and a resume (or customize your current resume) for a specific job posting. Follow the steps below:
Career exploration research paper : Job Duties. What does the job entail? What responsibilities would you have? Which responsibilities would you like or dislike?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find the weighted after tax cost of bonds

Question 1. What will be the risk-return profile for an investor with a high tolerance for risk?

  Journalize the entry to record the factory labor costs

Towsen Inc. manufactures recreational vehicles. Towsen uses a job order cost system. Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $26 per direct labor hour. Journalize the entry to record the factory labor cost..

  Stockholders equity total liabilities-stockholders equity

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: Hillyard Company Balance Sheet March 31 Asse..

  Find amount of cash investment by dd

Find amount of cash investment by DD. Prepaid salary expenses of P600 and accrued rent expense of P800 are to be recognized.

  What is the wacc for the last dollar raised to complete

The CFO estimates that a proposed expansion would require an investment of $6.5 million. What is the WACC for the last dollar raised to complete the expansion?

  How is related to the movements of a teeter- totter

Interest rate risk is often explained by using the concept of a teeter-totter. Explain interest rate risk and how is related to the movements of teeter- totter?

  Post the transactions to the merchandise inventory account

Post the transactions to the merchandise inventory account. Compare the total in this account with the total of the cash paid during March

  What is Mary effective annual rate

She sold all stocks today for $42.90. During that period the stock paid dividends of $1.63 per share. What is Mary's effective annual rate

  How much must you deposit each year to obtain your goal

If the bank is willing to pay 7 percent compounded annually, how much must you deposit each year to obtain your goal

  Make kingbird entry to record the exchange

Make Kingbird's entry to record the exchange. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

  What year does the pool reach the payback period

In what year does the pool reach its payback period? The City in which you live is evaluating a project to build and manage a public pool

  Fishers intersection point on financial decision making

The importance of fisher's intersection point on financial decision making

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