Answer:
Annual depreciation= $41,470
Explanation:
Giving the following information:
Purchasing price= $393,000
Salvage value= $74,000
The machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.
To calculate the depreciation expense using the units of activity method, we need to use the following formula on each year:
Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated
Annual depreciation= [(393,000 - 74,000)/30,000]*3,900
Annual depreciation= $41,470
Answer:
Gain= $400,600
Explanation:
<u>First, we need to calculate the book value of the building:</u>
Book value= purchase price - accumulated depreciation
Book value= 599,900 - 200,300
Book value= $399,600
<u>If the selling price is higher than the book value, the company gain from the sale.</u>
Gain/loss= selling price - book value
Gain/loss= 800,200 - 399,600
Gain= $400,600
Answer:
$65,300
Explanation:
Ivanhoe's income tax expense = deferred tax liability 2021 - deferred tax liability 2020 + current tax expense 2020 = $42,800 - $26,800 + $49,300 = $65,300
A deferred tax liability occurs when a corporation's income statement shows a certain amount following US GAAP, but the tax rules used by the IRS determine a different amount.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Raise;decrease is the answer to this question
