Determining the estimated salvage value

Assignment Help Business Economics

Reference no: EM131809835

A $150,000 asset has been depreciated with the straight-line method over an 8-year life. The estimated salvage value was $30,000. At the end of the 5th year the asset was sold for $90,000. From a tax perspective, What is happening at the time of disposal, and what is the dollar amount?

Reference no: EM131809835

Questions Cloud

Prepare the financial statement for sita ltd : Income tax of £40,000 is to be provided for the year. Prepare the following financial statement for Sita Ltd in accordance with IAS 1

Prepare the journal entries for each of given transactions : On August 1, 2016, John established John's Auto Service, Inc. Prepare the journal entries for each of these transactions.

Straight-line depreciation over the adr class : if MACRS GDS is used, and if straight-line depreciation over the ADR class life is used with a $10,000 salvage value.

What is the degree of operating leverage : What is the degree of operating leverage. What is the break-even point in units

Determining the estimated salvage value : A $150,000 asset has been depreciated with the straight-line method over an 8-year life. The estimated salvage value was $30,000.

Evaluate the proposal usaing the three basic method : A firm considering the purchase of forty year old building, the following pertinent data were provided. Evaluate the proposal usaing the 3 Basic method.

Determine the net operating income before the bonus : determine the net operating income before the bonus, What bonus amount is the president entitled to

Loss at disposal using the following depreciation methods : What is the size of the recaptured depreciation or loss at disposal using the following depreciation methods?

Recapture of macrs depreciation on the sale : Determine the loss, gain, or recapture of MACRS depreciation on the sale. The ADR is 12 years for this machine.

User Account

All Pages