User Account

All Pages

Solve book value of an asset for genetic insights co

Assignment Help Financial Accounting
Reference no: EM133005908

Genetic Insights Co. purchases an asset for $11,624. 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 $4,464.

Problem 1: Calculate book value of an asset. Round the answer to two decimals.

Reference no: EM133005908

Questions Cloud

Calculate snow eliminations for consolidation : Calculate Snow's eliminations for consolidation. Snow Corporation acquired all of the outstanding $10 par voting common stock of Lannister, Inc.
What is the relevance of the primary sources : What is the relevance of the Primary Sources to the History of the Filipino People: Riders of the Sulu Sea to present time of Philippine development in all aspe
Determine the yield to maturity of the bond : The Bond is Redeemable after 4 years @ Rs.1,200/-.Determine the Yield to Maturity (YTM) of the Bond if it's present market price is Rs 1,050.
What shall be the present value of the share with a discount : What shall be the present value of the share with a discount rate of 12 percent for the first seven years and 10 percent thereafter.
Solve book value of an asset for genetic insights co : The asset qualifies as a seven-year. Genetic Insights has a tax rate of 30%. The asset is sold at end of six years for $4,464. Calculate book value of an asset.
Why are managers regularly faced with large investment : Why is The automotive industry one of the largest industries that require intense investments? Why are managers regularly faced with large investment
What are the key features of one of the bonds issued : What are the key features of one of the bonds issued by your chosen company? Discuss how the bond's terms and collateral can affect the bond's interest
Solve gain or loss on disposal : Solve gain or loss on disposal. Genetic Insights Co. purchases an asset for $19,267. This asset qualifies as a seven-year recovery asset under MACRS.
Explain the pros of decision in terms of diversification : Joey's Bank decides to make loans only to agricultural firms. Explain the pros and cons of this decision in terms of diversification and specialization.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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