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Determine the adjustment to sparkys income

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Reference no: EM131240421

On April 1, 2014, Sparky purchased a truck for $50,000 with a salvage value of $7,000 and useful life of 5 years which was depreciated using the straight line method. On October 1, 2016, Sparky decided to change the salvage to $3,630 and a total useful life of 9 years. The bookkeeper has not recorded any depreciation on the truck for 2016.

Determine the ADJUSTMENT to Sparky's Income from Continuing Operations (ICO) for this item. Sparky has a corporate tax rate of 30%.

If you need to increase ICO, enter your answer as a positive number; for instance: 3000

If you need to decrease ICO, enter your answer as a negative number; for instance: -3000

If you determine no change is needed to ICO; enter NE.

Reference no: EM131240421

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