User Homework Solutions

Estimated salvage value A piece of equipment is purchased for $40,000 and has an estimated salvage value of $1,000 at the end of the recovery period.Prepare a depreciation schedule for the piece of equipment using the straight-line method with a recover period of five years.Report the annual depreciation and the annual book value.

Other / Other Other / Other 27 Oct 2017

A firm purchased tech equipment Assume a firm purchased tech equipment three years ago for $90,000. Let’s assume the tech equipment can be sold for $45,000. A new computer will cost $200,000but provide cost savings and operating benefits, compared to the old computer, of $24,000 per year for the next six years. Both will have no salvage value after 6 years. These cost savings and operating benefits are the equivalent of increased earnings

Other / Other Other / Other 27 Oct 2017

A firms earnings before depreciation and taxesb Question: A firm's earnings before depreciation and taxes = $550,000, and their tax rate is 40 percent.By depreciating $98,500 instead of $40,000 this year, how much will the following terms increase or decrease? a) Earnings before taxes b) Earnings after taxes c) Cash flow

Other / Other Other / Other 27 Oct 2017

Business Assignment- Forecasted income statement Question TV produces wall mounts for flat panel television sets. The forecasted income statement for 2009 is as follows:TOBITZU TVBudgeted Income StatementFor the Year 2009Sales ($43 per unit) $4,300,000Cost of good sold ($32 per unit) (3,200,000)Gross profit 1,100,000Selling expenses ($2 per unit) (200,000)Net income $900,000Additional Information(1) Of the production costs and selling expenses

Other / Other Other / Other 27 Oct 2017

Business Assignment- Correct net cash Identify what the correct net cash flow for the second year would be if all cash expenses where as described in the scenario, but there were no depreciation expense.?

Other / Other Other / Other 27 Oct 2017

Balance Sheet and Cash Flow I am attaching an excel spreadsheet that includes the Balance Sheet, Income Statement and Cash Flow Statement for Whitehex, a hypothetical engineering and construction company.Need an analysis of the three statements, Annual Income, Balance Sheet and Cash Flow. All I need is to explain what happen to the firm’s finances in 2009? In other words, what do the numbers mean between the two years(comparison)?

Other / Other Other / Other 27 Oct 2017

TOBITZU TV Budgeted Income Tobitzu TV produces wall mounts for flat panel television sets. The forecasted income statement for 2009 is as follows:TOBITZU TVBudgeted Income StatementFor the Year 2009Sales ($43 per unit) $4,300,000Cost of good sold ($32 per unit) (3,200,000)Gross profit 1,100,000Selling expenses ($2 per unit) (200,000)Net income $900,000Additional Information(1) Of the production costs and selling expenses, $600,000 and $100,000,

Other / Other Other / Other 27 Oct 2017

Income Sourcing International Tax Taxation.Ensure you comply with the changed research directives shown before RC9.Income Sourcing – International TaxHidetoshi was a world-renowned rock star from NewCountry. Sony-USA Records contracted with Hidetoshi to produce records. Sony-USA Records retained all intellectual property rights in the recordings. The contract granted Hidetoshi payments or “royalties” based upon future sales of

Other / Other Other / Other 27 Oct 2017

Business Assignment- Week 3 Assignment 3-36 àCash and Accrual Methods.Carmen opens a retail store. Her sales during the first year are $600,000, of which $30,000 has not been collected at year-end. Her purchases are $400,000. She still owes $20,000 to her suppliers, and at year-end she has $50,000 of inventory on hand. She incurred operating expenses of $160,000. At year-end she has not paid $15,000 of the expenses. Compute her net inc

Other / Other Other / Other 27 Oct 2017

Business Assignment- Pension Income Pension Income. Beth retires when she turns 65. She begins receiving a monthly pension of $300 from her employer’s qualified retirement plan. While employed, Beth contributed $13,000 to the plan.a. Beth uses the simplified method to compute her exclusion. Why?b. Compute her monthly exclusion.c. How much gross income does she report in the first year if she receives 12 monthly checks?Jim and Linda are you

Other / Other Other / Other 27 Oct 2017