Bert Corporation, a calendar-year taxpayer, owns property in States M and O. Both M and O...
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Bert Corporation, a calendar-year taxpayer, owns property in States M and O. Both M and O require that the average value of assets be included in the property factor. M requires that the property be valued at its historical cost, and 0 requires that the property be included in the property factor at its net depreciated book value. Account Balances at Beginning of Year State M State O Totals Inventories $200,000 $300,000 $ 500,000 700,000 300,000 Building & 1,000,000 machinery (cost) Accumulated (150,000) (50,000) (200,000) depreciation Land Totals 400,000 200,000 600,000 $1,150,000 $750,000 $1,900,000 Account Balances at Year-End State M State O Totals Inventories $ 400,000 $100,000 $500,000 1,300,000 800,000 500,000 Building & machinery (cost) Accumulated (300,000) (100,000) (400,000) depreciation 600,000 Land Totals 400,000 200,000 $1,300,000 $700,000 $2,000,000 Annual rent $50,000 $25,000 payments Bert's M property factor is: Bert Corporation, a calendar-year taxpayer, owns property in States M and O. Both M and O require that the average value of assets be included in the property factor. M requires that the property be valued at its historical cost, and 0 requires that the property be included in the property factor at its net depreciated book value. Account Balances at Beginning of Year State M State O Totals Inventories $200,000 $300,000 $ 500,000 700,000 300,000 Building & 1,000,000 machinery (cost) Accumulated (150,000) (50,000) (200,000) depreciation Land Totals 400,000 200,000 600,000 $1,150,000 $750,000 $1,900,000 Account Balances at Year-End State M State O Totals Inventories $ 400,000 $100,000 $500,000 1,300,000 800,000 500,000 Building & machinery (cost) Accumulated (300,000) (100,000) (400,000) depreciation 600,000 Land Totals 400,000 200,000 $1,300,000 $700,000 $2,000,000 Annual rent $50,000 $25,000 payments Bert's M property factor is:
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College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
Posted Date:
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