Calculate cost base, and capital gain (Loss), and capital gain tax, if any, considering Ajay decided to index (if applicable) and the relevant corporate tax rate is 30%.

(Note this question is from the Topic 8 Lecture: Capital Gains Tax) Ajay Ltd purchased a depreciating asset with the value of $5,000 on 31 March 1989. On the same day, the company paid $50 to transfer the ownership. One year after, on 31 March 1990, this company spent an additional $1,500 for the asset functionality improvement. Later, on 31 March 1992, the company moved to a new place, and paid $200 to transfer this asset to the new location of business. Finally, the asset was sold in 2020 for $12,000 (Ignore GST effect in all calculations of this question). Calculate cost base, and capital gain (Loss), and capital gain tax, if any, considering Ajay decided to index (if applicable) and the relevant corporate tax rate is 30%. (You can use your presentation slides for indexation, if required, and round to two decimals only, only use tables and no narration format is allowed, otherwise, the answer would not be marked).

Compute the annual depreciation to be charged, beginning with 2022. (Round answer to O decimal places, e.g. 45,892.) Annual depreciation expense-building %24

New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $283,600. The ovens originally cost $378,000, had an estimated service life of 10 years, had an estimated residual value of $23,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli.   Required: 1. Calculate the balance in the accumulated depreciation account at the end of the third year.   Accumulated depreciation

s

In 1990, Sunland Company completed the construction of a building at a cost of $880,000 and first occupied it in January 1991. It was estimated that the building would have a useful life of 40 years and a salvage value of $26,000 at the end of that time. Early in 2001, an addition to the building was constructed at a cost of $220,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $9,000. In 2019, it is determined that the probable life of the building and addition will extend to the end of 2050, or 20 years beyond the original estimate.   Compute the annual depreciation that would have been charged from 2001 through 2018. Annual depreciation from 2001 through 2018 Compute the annual depreciation to be charged, beginning with 2019. Annual depreciation expense—building

In 1990, Sheridan Company completed the construction of a building at a cost of $860,000 and fırst occupied it in January 1991. It was estimated that the building would have a useful life of 40 years and a salvage value of $26,000 at the end of that time. Early in 2001, an addition to the building was constructed at a cost of $215,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $9,000. In 2019, it is determined that the probable life of the building and addition will extend to the end of 2050, or 20 years beyond the original estimate. (a) Using the straight-line method, compute the annual depreciation that would have been charged each year from 1991 through 2000. Annual depreciation from 1991 through 2000 $ / yr %24

Please solve this problem

New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $500,000. The ovens originally cost $690,000, had an estimated service life of 10 years, had an estimated residual value of $40,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery.   Problem 7-8A Part 4 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

vvv Limited purchased a machine for $300,000 cash on 1 July 2005. The useful life of the machine is 10 years, no residual value and straight line method for depreciation. The company uses the revaluation model. On 31 December 2005, the fair value was $332,500 for the machine. On 31 December 2006, the fair value was $280,500 for the machine. The machine has a fair value of $302,250 on 31 December 2007 and $250,950 on 31 December 2008. Required: Provide the journal entries related to machine.