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ABC Inc. purchased machinery and equipment in the amount of $230,000 on January 1, 2019. ABC will amortize this asset straight line over 15 years, with no salvage value. For tax purposes these assets are to be depreciated using a capital cost allowance rate of 7% each year of the original value (i.e. $225,000). ABC pays tax at a rate of 40%.(ignore the half-net year rule).
Problem a.) What is the amount of the temporary difference (before tax) between straight line depreciation and capital cost allowance on December 31, 2022?
Problem b.) What would the amount be as of December 31, 2022 for any Deferred Tax Asset / Liability to be recorded for the balance sheet for ABC?
Problem c.) What would the amount be as of December 31, 2023 for any Deferred Tax Asset / Liability to be recorded on the balance sheet for ABC?
$900,000 and accumulated depreciation of $800,000 is sold for $80,000. What is the amount of the gain or loss on disposal of the plant asset?
Summarize the information in §830 specifically addressing the items under initial measurement, subsequent measurement and other presentation matters.
Based on these preliminary project estimates, what is the NPV of the project? What is the IRR? (Enter your answer in dollars, not in millions of dollars)
Bought extra equipment on credit for £13,800. You are to draw up a balance sheet as on 7 December 2002 after the above transactions have been completed
Do believe is rational to have the differences in the two reporting entities? Explain why there are difference in the two approaches.
If the market rate of interest averaged 4.5% during the year, what is B&B's weighted-average cost of debt? $ 180,000, 3.5% notes payable.
Prepare a classified balance sheet for Tricam Engineering at December 31, 2013 using the post-closing trial balance and the additional information provided.
What is the after-tax cash inflow from the sale of the old machine at time 0? and What is the tax liability created by the sale of the new machine at the end
compute the net benefits using a discount rate of 6 percent ,repeat using a discount rate of 12 percent, what can you conclude from this exercise?
determined with absorption costing and direct costing.1. the shift in the amount of manufacturing overhead costs
It anticipates a sale of these assets and a complete liquidation of the company over the next two years. Arnold Schwartz, the CFO, calls you, asking how to treat these transactions. Prepare a tax memo dated June 18, 2008, indicating what you told ..
What is the present value of an investment which compounds annually at 10% and starts at $10,000/year and decreases by 8% per year for 10 years (starting with the second year)?
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