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purchased a new machine 3 years ago for $80,000. It is being
depreciated under MACRS with a 5-year recovery period using the
percentages given in Table 4.2 on page 000. Assume a 40% tax rate.
a. What is the book value of the machine? b. Calculate the firm’s tax
liability if it sold the machine for each of the following amounts:
$100,000; $56,000; $23,200; and $15,000. P11–9 Tax calculations
For each of the following cases, determine the total taxes resulting
from the transaction. Assume a 40% tax rate. The asset was purchased
2 years ago for $200,000 and is being depreciated under MACRS
using a 5-year recovery period. (See Table 4.2 on page 120 for the
applicable depreciation percentages.) a. The asset is sold for
$220,000. b. The asset is sold for $150,000. c. The asset is sold for
$96,000. d. The asset is sold for $80,000.
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FIN 486 Week 3 Individual Assignment Long-Term
Financial Needs (2 Papers)
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This Tutorial contains 2 Different Papers You are the head of the
Huffman Trucking accounting department. The chief executive
officer (CEO) has asked you to prepare a financial report addressing
long-term financial needs. Resource: Virtual Organizations Examine
financial information for Huffman Trucking, within the Virtual
Organization web link located on the course materials page. Read the
New Strategic Directions Memo. Calculate external funds needed
(EFN) to create the pro forma balance sheet. Calculate the following
year-end ratios for the pro forma statements: · Profit as a percentage
of sales · Current ratio · Asset ratio Prepare a 500- to 850-word
financial report for the CEO containing the EFN calculation, the ratio
calculations, and an explanation of how you reached the calculations.