User Account

All Pages

Calculate tax paid on gain on disposal

Assignment Help Financial Accounting
Reference no: EM132564072

Genetic Insights Co. purchases an asset for $12,546. 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 $4,009.

Question 1: Calculate tax paid on gain on disposal. Round the answer to two decimals.

Reference no: EM132564072

Questions Cloud

Find what is the firm degree of combined leverage : La Cucaracha Pest Control, Inc. Find What is the firm's degree of combined (total) leverage of La Cucaracha Pest Control, Inc. ?
Calculate Canyon Drillings after tax weighted average cost : What is the component cost of capital for the firm? Calculate Canyon Drilling's after tax weighted average cost of capital, using the information above
Explain your chosen clinical issue of interest : Create a 6- to 7-slide PowerPoint presentation in which you do the following: Identify and briefly describe your chosen clinical issue of interest.
How the triple aim is represented in your chosen measures : Analyze how the Triple Aim/Quadruple Aim is represented in your chosen measures. Explain how you displayed the measures. Justify your choice of display.
Calculate tax paid on gain on disposal : Calculate tax paid on gain on disposal. Round the answer to two decimals. The seven-year fixed depreciation percentages for years 1, 2, 3, 4, 5, and 6
Leadership theories and leadership styles : Determine two leadership theories and two leadership styles that support the definition of a public leader.
Prepare the cash flows from operating activities section : Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. How much was the payment of dividends
Find and provide journal entries to adjust the carry-forward : GYV Ltd, Find and Provide the journal entries to adjust the carry-forward balances of the deferred tax asset and deferred tax liability.
What behaviours roman and hailey show : What behaviours Roman and Hailey show in each video and how these behaviours illustrate their level of development

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