Answer:
$2,343,120
Explanation:
The computation of the after tax salvage value of the asset is shown below:
Written down cost of asset after 4 years = Acquisition cost of an asset - 4 years depreciation
= $9,100,000 × (100 - 20 - 32 -19.20 - 11.52)%
= $1,572,480
Refer to the MACRS table
Now
Selling price = $2,600,000
Gain on Sale is
= $2,600,000 - 1,572,480
= $1,027,520
So,
Tax on Gain is
= $1,027,520 × 25%
= $256,880
So,
After tax salvage value = Sales Price - gain on tax
= $2,600,000 - $256,880
= $2,343,120
Answer:
1. Reporting most changes in accounting principle.
FASB ACS 250-10-45-5.
Title - "Accounting changes and Error corrections - Overall - Other presentation matters - Change in Accounting principle"
2) Disclosure requirements for a change in accounting principle:
FASB ACS 250-10-50-1 :
Title - "Accounting changes and Error corrections - Overall - Disclosure - Change in accounting principle"
3) Illustration of the application of a retrospective change in the method of accounting for Inventory :
FASB ACS 250-10-55-3
Titles - "Accounting changes and Error corrections - Overall - Implementation guidance and Illustrations -Retrospective application of a change in Accounting principle."
A good way to improve your credit score is B) pay your bills on time
The answer is : Elastic Demand. The elasticity of demand shows the responsiveness of the quantity demanded to the change in price. An elastic demand means that the demand is affected by changes in price. While an inelastic demand means that the supply is not affected by changes in price at all.
Answer:
The lenders use a system of five Cs to know about the creditworthiness of potential borrowers. They weigh five characteristics of the borrower and various conditions of the loan, chances of default and risk of loss. The five Cs used by the lender are capacity, character, collateral, capacity and conditions.
- The first C is character, it can be known by the previous loans of the applicant.
- Debt to income ratio is the second C.
- The third C is capital, it is the amount of money possessed by an applicant.
- Collateral is the fourth C, it is the asset that can be used to back the loan.
- The fifth C is conditions, the amount of the loan, its purpose and the prevailing interest rate in the market are known as conditions.
