Calculate the balancing adjustment.
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In 2018 an asset was purchased for $2,000,000. The asset qualified for Initial Allowance. The Initial Allowance (I.A) Rate was 20%. Annual Allowance (A.A) Rate was 10%. The asset was sold in 2020 for $1,000,000. Capital allowance is on the reducing balance basis.
Calculate the balancing adjustment.
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- are ? k of &, Deposits of $100 are made at the end of each calendar year from 2014 through 2019 inclusive. The resulting fund is to be used to buy a perpetuity with annual payments following the pattern X, 4X, 7X, 10X,... with the first payment on December 31, 2021. If the anmual effective rate of interest is 5%, find X. A. 0.558 B. 0.567 C. 0.576 D. 0.585 E. 0.594On 31 December 2013, the fair value of the asset less costs to sell was OMR 50,000 and the expected fu for the next five years. The current cost of capital is 10% and a five-year annuity of OMR 1 per annum at 3-79. What is the present value of future cash flow of the asset? O a. OMR 45,000. O b. OMR 50,000. O c. OMR 37,900.The Hankin Corporation purchased new production equipment on September 1. 2017 for $14.000 and expects to use it for 8 years at which time it can be sold for an estimated $2.000. What net book value should appear for the equipment in the company's year-end financial statements for 2019? As needed, round your final answer to the nearest whole dollar.
- What is the present value on January 1, 2016, of $40,000 to be received on January 1, 2019, and discounted 8% compounded annually? Round answer to two decimal places.Reversing Rapids Co. purchases an asset for $147,552. This asset qualifies as a five-year recovery asset under MACRS. The five-year expense percentages for years 1, 2, 3, and 4 are 20.00%, 32.00%, 19.20%, and 11.52% respectively. Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $11,409. Calculate book value of an asset. Round the answer to two decimals. Answer: (25,496.99) answer is given pls how to getJPX's decides to value a property based on its expected net after-tax monthly cash flow of $7,400, as if it were a perpetuity. Assuming the next cash flow is received one-month from today, what is the property value given a discount rate of 11.52% APR, compounded monthly? A) 770808 B) 770833 C) 770865 D) 770912
- Vilma Company has estimated that total depreciation expense for the yearended December 31, 2020 will amount to P250,000. As of the beginningof the year, the company had fixed assets amounting to P2,000,000 andacquired additional fixed assets of P1,000,000 on July 1, 2020. Theestimated useful life is for 10 years. The 2020 year-end bonuses toemployees will total P600,000. In Vilma’s interim income statement for thesix months ended June 30, 2020, what total amount of expense relating tothese two items should be reported?Please help me with correct answer thankuIn 2025, the controller of Green Company discovered that 2024 depreciation expense was overstated by $40,000, a material amount. Assuming an income tax rate of 25%, the prior period adjustment to 2025 beginning retained would be:
- A3) Finance A property can be purchased in cash or through an equivalent plan, over 20 years, consisting of equal monthly payments (before monetary correction), at the effective rate of 8.60% per year. Monetary correction is made monthly, using the reference rate (RT). Throughout this period, the monthly average RT was 0.60%. Knowing that the twentieth installment was $2170 (after monetary correction), obtain the cash value of the property.Thor, Inc reported depreciation on the income statement by the straight-line method on an asset with a four-year useful life. MACRS is used for the tax return. Income statement: $5 million each year. Tax Return: 2020 $7 million; 2021 $6 million; 2022 $4 million; 2023 $3 million. The income tax rate is 20% for all years. The current year is 2022. Which of the following statements is true regarding the differences between accounting and tax depreciation? The 2022 beginning balance in the deferred tax liability is $.6M, the 2022 difference is originating, and the desired ending balance in the 2022 deferred tax liability is $.4M. The 2022 beginning balance in the deferred tax liability is $.6M, the 2022 difference is reversing, and the desired ending balance in the 2022 deferred tax liability is $.4M. The 2022 beginning balance in the deferred tax liability is $.4M, the 2022 difference is reversing, and the desired ending balance in the 2022 deferred tax liability is $.6M. The 2022…Calculate the present value as at 1 January 2019 of a series of payments of £100 payable on the first day of each month during 2020, 2021 and 2022, assuming an effective rate of interest of 8% per annum. Calculate this in form of Annuities like in Actuarial Science.
