An after-market auto parts company sells a machining robot that had been depreciated to zero for $16,000.
Question:
An after-market auto parts company sells a machining robot that had been depreciated to zero for $16,000. If the company’s effective tax rate is 36%, the sale will:
(a) Increase the company’s taxes by $16,000
(b) Increase the company’s taxes by $5760
(c) Reduce the company’s taxes by $16,000
(d) Reduce the company’s taxes by $5760
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
The sale results in ...View the full answer
Answered By
Ankit Mahajan
I am an electrical engineering graduate from Thapar institute of engineering and technology.
Qualified exams - GATE 2019,2020.
CAT EXAM 2021- 91.4 percentile
SSC EXAMS- 2019,2020,2021
AFCAT EXAM- 2019,2020,2021
I want to share my knowledge with other people so that they can achieve the same.
I have strong hold Mathematics, Electrical engineering and all the subjects related.
Just give me a problem and I will give you the solution of it.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On January 1, 20X1, the Dallas Auto Parts Company acquired nine identical assembly robots for a total of $594,000 cash. The robots had an expected useful life of 10 years and an expected residual...
-
For each of the following situations, determine the deduction concepts involved, and explain how they form the basis for the tax treatment described: a. Individuals are allowed to deduct medical...
-
Described below are several transactions and events for Chisholm Insurance Ltd for the year ended 30 June 2016. 1. The company issued a 1-year insurance policy to Boronia Ltd on 1 March 2016, costing...
-
Establishing causality is difficult, whether conclusions have been derived inductively or deductively. (a) Explain and elaborate on the implications of this statement. (b) Why is ascribing causality...
-
Micro Tek Inc. is considering an investment in new equipment that will be used to manufacture a smartphone. The phone is expected to generate additional annual sales of 4,000 units at $450 per unit....
-
Northern Manufacturing Company found that during the last year, it took an average of 47 days to pay its suppliers, while it took 63 days to collect its receivables. The companys days sale in...
-
Conventional financial accounting suggests that environmental permits should be measured by using the historical cost principle. One alternative is that current market prices should be used instead....
-
Use the information for Navajo Corporation from BE10-8. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.
-
Bob's is a retail chain of specialty hardware stores. The firm has 1 8 , 0 0 0 shares of stock outstanding that are currently valued at $ 8 2 a share and provide a rate of return of 1 3 . 2 percent....
-
Fulcrum Industries manufactures dining chairs and tables. The following information is available: Dining Chairs Tables Total Cost 600 470 2,400 Machine setups Inspections Labor hours Problem 2. 200...
-
Decker Scientific is considering an investment of $850,000 in a new product line. The company will make the investment only if it will result in a rate of return of 20% per year or higher. If the...
-
A small manufacturing company with a gross income of $360,000 has the following operating expenses: M&O = $76,000, insurance = $7000, labor = $110,000, utilities = $29,000, debt service = $37,000,...
-
In the January 2009 article Americans on Bailout: Stop Spending, P. Steinhauser reported on a CNN/Opinion Research Corporation poll that found that, of 1245 U.S. adults sampled, 758 opposed providing...
-
Solve by factoring. if x+10x+9= 0 then x = or . (Enter answer to 3 decimal places, if needed.) Submit Answer
-
MV Corporation has debt with market value of $102 million, common equity with a book value of $99 million, and preferred stock worth $17 million outstanding. Its common equity trades at $50 per...
-
Solve the equation by the method of your choice. 2 (7x-2) = 4 The solution set is (Simplify your answer. Type an exact answer, using radicals and i as needed. Use integers or fractions for any...
-
Describe the mechanisms used by operating systems to enforce memory protection and isolation between processes. How do techniques like address space layout randomization (ASLR) contribute to system...
-
Let's presume that Mr. Lopez in your video was arrested for assaulting a police officer who was called to a disturbance on a street near a restaurant. Mr. Lopez was not considered insane after an...
-
Which data type changes are the least risky?
-
In each of the following independent cases, document the system using whatever technique(s) your instructor specifies. a. Dreambox Creations (www.dreamboxcreations.com/) in Diamond Bar, California,...
-
Economic service life calculations for an asset are shown below. If an interest rate of 10% per year was used in making the calculations, determine the values of P and S that were used in calculating...
-
The initial cost of a bridge that is expected to be in place forever is $70 million. Maintenance can be done at 1-, 2-, 3-, or 4-year intervals, but the longer the interval between servicing, the...
-
A construction company bought a 180,000 metric ton earth sifter at a cost of $65,000. The company expects to keep the equipment a maximum of 7 years. The operating cost is expected to follow the...
-
A drum contains water and 1,4-dioxane that is left over waste from an electronics cleaning facility. For a mixture of 70 mol% water and 30 mol% 1,4-dioxane in the drum at 35 oC, calculate the...
-
Show what is produced by the following Java code. Assume list is a reference variable of type Sinly LinkedList, and length(), InsertFirst(), insertLast). first(), last(). print() are the methods of...
-
Explore the themes of alienation and dislocation in James Joyce's "Ulysses." How do these themes reflect the modernist perspective on the fragmentation of society and the individual's place within it...
Study smarter with the SolutionInn App