User Account

All Pages

Calculate gain or loss on disposal for genetic insights co

Assignment Help Financial Accounting
Reference no: EM132793008

Genetic Insights Co. purchases an asset for $18,167. 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 $4,172.

Problem 1: Calculate gain or loss on disposal.

Reference no: EM132793008

Questions Cloud

What would be simon new wacc and total value : The Simon Company (SIMON) currently has $300,000 market value, If this plan were carried out, what would be SIMON's new WACC and total value
Determine the depreciation for each of the first two years : A computer system acquired on January 1 at a cost of $72,000. Determine the depreciation for each of the first two years by the double-declining-balance method.
Who was the second president of the united states : As recently dramatised in a critically acclaimed miniseries, what year did the Chernobyl disaster occur? Who was the second President of the United States?
Compute amount of underapplied or overapplied overhead cost : The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. Compute amount of underapplied or overapplied overhead
Calculate gain or loss on disposal for genetic insights co : Calculate gain or loss on disposal. Genetic Insights Co. purchases an asset for $18,167. This asset qualifies as a seven-year recovery
Components of human resource management : Discuss the key components of human resource management. What are some tools they can use to select the best-talent?
Give examples of four digital marketing activities : You need to consider when formulating a business plan is costs and overheads. Give 5 examples of costs and overheads common to all business.
Pediatric dosage guidelines are typically unavailable : This is because pediatric dosage guidelines are typically unavailable, since very few drugs have been specifically researched and tested with children
Define the terms customer base and target market : Define the terms 'customer base' and 'target market' and state how these two groups are useful when identifying market size and potential.

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd