Platinum corporation purchased machinery on january 1 2007

Reference no: EM13611092

Platinum Corporation purchased machinery on January 1, 2007 at acost of $160,000. The machinery has an estimated useful life of 10years and $30,000 residual value. Platinum's income, beforedepreciation and income taxes, for 2007 was $300,000. If Stone hasa 40% income tax rate, determine the amount of income tax expenseand net income it will report, using the

a.straight-line method

b.double declining balance method

Reference no: EM13611092

Questions Cloud

A how far beyond the point at which you passed the police : you are driving in the turnpike at a speed of 110 mph 49.2ms way over the posted speed limit of 55 mph 26.6ms when you

Carr company is considering two capital investment : carr company is considering two capital investment proposals. estimates regarding each project are provided below

What power must the output power of the jeep be to travel : a jeep tows a 400kg block uip a 45deg incline. the coefficients of friction between the block and the ground are us0.5

Two identical hollow cylindrical neodymium iron boron ndfeb : two identical hollow cylindrical neodymium iron boron ndfeb magnets are placed on a nonmagnetic post so that one is

Platinum corporation purchased machinery on january 1 2007 : platinum corporation purchased machinery on january 1 2007 at acost of 160000. the machinery has an estimated useful

A company projects an increase in net income of 30000 each : a company projects an increase in net income of 30000 each year for the next five years if it invests 300000 in new

Find the mean and standard error of the sample means that : find the mean and standard error of the sample means that is normally distributed with a mean of 10 and a standard

What is the maximum velocity that the car can achieve : a driver of a car is driving around in circles with a diameter of 100 ft. the driver is traveling 20 mpg when he

Suppose you were given the task of estimating the : suppose you were given the task of estimating the proportion of drivers in troy al who text while they drive. discuss

Reviews

Write a Review

Required(*) Message

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?

Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

Accounting problems

Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.

Theory of interest - term structure of interest rates

Term Structure of Interest Rates

Write a report on internal controls

Write a report on Internal Controls

Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

Liquidity and profitability

Distinguish between liquidity and profitability.

What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

Capm and venture capital

CAPM and Venture Capital

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

User Account

All Pages