User Account

All Pages

Calculate tax paid on gain on disposal

Assignment Help Financial Accounting
Reference no: EM132955092

Question - Genetic Insights Co. purchases an asset for $19,336. 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 $3,926. Calculate tax paid on gain on disposal.

Reference no: EM132955092

Questions Cloud

At what amount should the entity value the stock : On December 31, the stock has a fair value of $8,200. At what amount should the entity value the stock on its December 31 statement of financial position
Prepare the required journal entries for gomez limited : At the beginning of 2018, the company purchased a machine for $465,000 (residual value of $31,500). Identify the type of change for each of the six items.
Determine the annual effective interest rate : His financial adviser told him that this liability has a Macaulay duration of 7.39 years. Determine the annual effective interest rate
What is return on equity : Gibraltar has sales of 3000 total assets of 2500 and a net profit margin of 5% the firm has total debt ratio of 40%. What is return on equity
Calculate tax paid on gain on disposal : Genetic Insights has a tax rate of 30%. The asset is sold at the end of six years for $3,926. Calculate tax paid on gain on disposal
What is the firms estimated intrinsic value per share : Gustav Food's WACC is 13%, its FCF is expected to be $90 million, What is the firm's estimated intrinsic value per share of common stock
What is the cash payback period for sheffield corp : What is The cash payback period for Sheffield Corp. Sheffield Corp. is considering the purchase of a piece of equipment that costs $15000.
How much can mary deduct of the loss : The owners each had a $50,000 adjusted basis in their share of the company at the beginning of Year 1. How much can Mary deduct of the loss
What are the two enterprise funds of arlington : Texas Statement of Net Position of Proprietary Funds as of September 30, 2019 (Amounts Expressed In Thousands). What are the two Enterprise Funds of Arlington?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Goods inventory

Beginning finished goods inventory contained 1,000 units, and 1,500 units are desired to be on hand at month end. Conversely,

  What is the most expensive car can buy

What is the most expensive car you can buy if you buy it on credit payable in 60 months. Carmen Hernández has saved $ 8,000 for a car deposit.

  What is the company forecasted cash balance

What is the company's forecasted cash balance? Bryans Corporation has a projected balance sheet that includes the Marketable securities

  What price must expect evco stock to sell for immediately

What price must you expect Evco stock to sell for immediately after the firm pays the dividend in one year to justify its current price?

  What must be the price for phoenix industries

Moderate long-term growth rate of 5 percent. If the firm's investors expect to earn a return of 15 percent on this stock, what must be its price?

  Straight-line method to amortize the bond discount

On January 1, 2015, Carter Sales issued $15,000 in bonds for $14,700. They were 6-year bonds with a stated rate of 9%, and pay semi annual interest. Carter Sales uses the straight-line method to amortize the Bond Discount. On June 30, 2015, when Cart..

  What is the npv of the merger for cartel corporation

Cartel Corporation, Suppose Cartel pays $1.5 billion in cash to buy 100 percent of the common stock of Superior. What is the NPV of the merger?

  What is the present value of the offer for pamela

What is the present value of the offer, if the discount rate is 8 percent? Pamela has received a job offer from a large investment bank as an assistant

  Prepare a three-part consolidation worksheet as of december

December 31, 20X8. Prepare all consolidating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9.

  How much has accumulated in deferred compensation account

Under the MLB deferred compensation plan, payments made at the end of each year accumulate up to retirement and then retirees are given two options. How much has accumulated in Sosa's deferred compensation account? How much will Sosa be able to withd..

  Denominator-level problem

Denominator-level problem. Thunder Bolt, Inc., is a manufacturer of the very popular G36 motorcycles. The management at Thunder Bolt has recently adopted absorption costing and is debating which denominator-level concept to use. Calculate the budgete..

  Uses the straight-line method to amortize the discount

On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry t..

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