4. On January 1, 2017 Tal company purchased a machine for $720,000. The machine is depreciated...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
4. On January 1, 2017 Tal company purchased a machine for $720,000. The machine is depreciated based on the units of production method for 4 years and estimated production of 1,560,000 units. The residual value is $20,000. The actual production was 500,000 units in 2017 and 350,000 units in 2018. In addition to the purchase price above, the company paid $80,000 related to tax import. On January 1, 2019, the company sold the machine for $450,000. What will be the capital gain/loss due to the sale of the machine? a. $75,000 capital gain. b. $46,000 capital loss. c. $68,590 capital gain. d. $200,000 capital gain. $425,000 capital gain. e. 4. On January 1, 2017 Tal company purchased a machine for $720,000. The machine is depreciated based on the units of production method for 4 years and estimated production of 1,560,000 units. The residual value is $20,000. The actual production was 500,000 units in 2017 and 350,000 units in 2018. In addition to the purchase price above, the company paid $80,000 related to tax import. On January 1, 2019, the company sold the machine for $450,000. What will be the capital gain/loss due to the sale of the machine? a. $75,000 capital gain. b. $46,000 capital loss. c. $68,590 capital gain. d. $200,000 capital gain. $425,000 capital gain. e.
Expert Answer:
Answer rating: 100% (QA)
QUESTION 1 Describe and provide examples of the importance and the distinction between internal and external equity External equity refers to an employees perception of being treated similarly to empl... View the full answer
Related Book For
Construction accounting and financial management
ISBN: 978-0135017111
2nd Edition
Authors: Steven j. Peterson
Posted Date:
Students also viewed these accounting questions
-
Describe and provide examples of dependent and independent demand.
-
Select two organizations and provide examples of their value chains using the framework in Exhibit 2.2 . Customers Transformation and Market Segments Process Organization Suppliers Inputs Outputs...
-
Research radio frequency identification devices (RFID) and provide examples of how they are or might be used to improve productivity in operations.
-
Calculate the dollar proceeds from the FIs loan portfolio at the end of the year, the return on the FIs loan portfolio, and the net interest margin for the FI if the spot foreign exchange rate has...
-
Consider the market for milk in Saskatchewan. If p is the price of milk (cents per litre) and Q is the quantity of litres (in millions per month), suppose that the demand and supply curves for milk...
-
The food stamp program has been part of a longterm public policy to ensure that lower-income families will be provided with adequate nutrition at lower cost. Some people argue that providing food...
-
Determine the horizontal displacement of joint \(B\). Each A992 steel member has a cross-sectional area of \(400 \mathrm{~mm}^{2}\). 5 kN -2 m- 4 kN C B D A 1.5 m
-
Universal Electronics is considering the purchase of manufacturing equipment with a 10-year midpoint in its asset depreciation range (ADR). Carefully refer to Table 12-11 to determine in what...
-
(Calculate investing and financing activities.) The following selected accounts are from Dupr Corp.'s general ledger: Land Jan. 1 500,000 Dec. 1 6,000 Dec. 31 506,000 Equipment Jan. 1 160,000 July 31...
-
Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. His W-2...
-
Prepare a task-level document flow chart of the process described below. Use a computer graphics software program instead of hand drawn. This assignment assesses your ability to comprehend the...
-
If you were asked whether a large university such as Tennessee or Michigan with a large seating capacity for their football stadiums should build a new football stadium, how would you respond and...
-
A production department reports the following conversion costs. Equivalent units of production for conversion total 436,000 units this period. Calculate the cost per equivalent unit of production for...
-
The trial balance for a company listed the following account balances at December 31, Year 1, the end of its fiscal year: cash, $36,000; accounts receivable. $31,000; Inventory, $45,000; equipment...
-
Describe the operating activities of each company noting similarities and difference between COCA COLA & PEPSICO. Identify two economy wide factors and industry wide factors that could impact on the...
-
Calculating Present Values Imprudential, Inc., has an unfunded pension liability of $645 million that must be paid in 25 years. To assess the value of the firm's stock, financial analysts want to...
-
Simplify: -5252 +545-328-15 (entry tip: to type type "5sqrt(3x)" - no quotes) Add Work Calculator Check Answer
-
The following selected information was taken from Sun Valley Citys general fund statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2019: Revenues:...
-
Determine the rate of return for Problem 5. Should your company purchase the dump truck? In Problem 5, your company is looking at purchasing a dump truck at a cost of $65,000. The truck would have a...
-
What is the future value, ten years from now, of ten $1,000 cash flows using a periodic interest rate of 8% compounded annually? The cash flows are made at the end of each year.
-
Determine the degree of fixed asset newness for the commercial company in Figures 6-1 and 6-2. What insight does this give you into the companys financial operations? Figures 6-1 WEST MOUNTAIN...
-
Of the following, which is the most comprehensive definition of a project? a. An environment created to deliver a product, service, or result. b. A collaborative enterprise that delivers a product,...
-
How do project management and quality management complement each other? a. Both focus on continuous improvement, management responsibility, customer satisfaction, and prevention over inspection. b....
-
When creating a project management plan, which of the following is the best choice to create it? a. Project manager b. Project manager and team c. Team d. Sponsor
Study smarter with the SolutionInn App