User Account

All Pages

What is the net income for tax purposes

Assignment Help Accounting Basics
Reference no: EM132871251

Question - A company's net income for financial statement purposes is 30,0000 included this amount are the following 40,000 gain from the sale of class 8 equipment for 60,000 that had an original cost of 330,000 and a net book value of 20,000, amortization expense of 25,000 and client entertainment expenses of 13,000. The undepreciated capital loss (UCC) of class 8 at the beginning of the year was 8,000. The capital cost allowance CCA computed on all other depreciable assets was 7,500, what is the net income for tax purposes?

Reference no: EM132871251

Questions Cloud

Why is recruitment and selection important for organizations : 1. Why is recruitment and selection important for organizations? 2. What are the key "take aways" for HR Managers?
Whats key characteristics of hegemony according to gramsci : What are the key characteristics of hegemony according to Gramsci? Who are the organic intellectuals, and what are organic ideologies?
MOD006363 Web Application Security Assignment : MOD006363 Web Application Security Assignment Help and Solution, Anglia Ruskin University - Assessment Writing Service
Prepare the appropriate journal entry to record disposition : Accumulated Depreciation on the machine to the date of disposal was $28,000. Prepare the appropriate journal entry to record the disposition of the machine
What is the net income for tax purposes : The capital cost allowance CCA computed on all other depreciable assets was 7,500, what is the net income for tax purposes
Create an argument in favor to the use of electoral college : Electoral College vote differed to create an argument in favor of or opposed to the use of the Electoral College (Identity solid background on election)
Compute the profit margins for each division : Low Carb Diet Supplement Inc. has two divisions. Division A has a pro?t of $134,000 on sales of $2,310,000. Compute the profit margins for each division
Focus on budget and vendor risks : Focus on the budget and vendor risks you identified and determine what you have learned that will prevent this from reoccurring in the future.
What are the advantages of grass-roots human rights approach : What are the advantages of grass-roots human rights approaches? Do you think this type of approach ultimately helps or hinder human rights enforcement?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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