Answer:
$1,531,286.40
Explanation:
The computation is shown below:
Given that
Acquisition cost of an asset = $5,400,000
Sale value of an asset = $1,700,000
Tax rate = 22%
So the after tax salvage value of the asset is
= $1,700,000 - ($1,700,000 - $5,400,000 × (11.52% + 5.76%)) × 22%
= $1,531,286.40
Refer to the MACRS table for the depreciation rate i.e 11.52% and 5.76%
I actually think this answer it's true
The right answer for the question that is being asked and shown above is that: "TRUE." <span>Convertible preferred stock may be exchanged, at the corporation's option, for a specified number of shares of common stock. This is true as far as the convertible preferred stock is concerned.</span>
Answer: a. a credit to Accounts Payable.
Explanation:
When paying off a note, cash will be used so cash will have to be credited to show that it is decreasing.
Interest expense will be debited by the interest accumulated on the loan because expenses are debited when they increase.
Notes Payable will be debited to show that the note has now been retired.
There is no credit for Accounts payable involved in this transaction.
Answer:
The answer is $5767641.92
Explanation:
PV of an Annuity = C x [ (1 – (1+i)-n) / i ]
PV of an Annuity = $1,600,000 x [ (1 – (1+0.12)-5) /0.12 ] = $5767641.92
The present value of the prize is $5767641.92
