Help please Using the MACRS rates from the following table,what is the book value of a $3,000 computer after 1year?Year MACRS Rate120.0 %32.0 %19.2 %11.52 %11.52 %book value = [ ? ]Round to the nearest hundredth.Enter022 International Academy of Science. All Rights Reserved.51

Answer: MACRS( Modified Accelerated Cost Recovery System) is a depreciation system used for tax…

Using the MACRS rates from the following table, what is the book value of a $3,000 computer after 1 year? Year MACRS Rate 1 20.0 % 2 32.0 % 3 19.2 % 11.52 % 11.52 % book value =[?] %3D Round to the nearest hundredth.

Using the MACRS rates from the following table, what is the book value of a $3,000 computer after 1 year? Year MACRS Rate 1 20.0 % 2 32.0 % 3 19.2 % 11.52 % 11.52 % book value =[?] %3D Round to the nearest hundredth.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 11EA: How much would you invest today in order to receive $30,000 in each of the following (for further...

See similar textbooks

Related questions

Q: Compute cost of goods sold and gross profit using the FIFO inventory costing method and using the…

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method of…

Q: tep by Step Solution All Parts

A: We will have to determine the final net price that a buyer will have to pay after all discounts and…

Q: On 25 March 2020, Miracle Company bought a machine at $1,350,000 with an estimated useful life of 15…

A: Cost of Machine= $ 1350000 Useful life = 15 years Need to calculate depreciation as per the…

Q: For each of the following payments, indicate the form (Form W-2, W-4, W-3, W-2G, 1099-B, 1099-DIV,

A: In USA IRS [ Internal Revenue Service ]is the tax authority and the…

Q: 38. Disclosure requirements for lease by lessee include: a. General Information about the lease b. A…

A: A lease agreement refers to a deed involving two parties (known as lessor and lessee) to provide…

Q: HOME WORK COST ACCOUNTING- COST CLASSIFICATION Required: Read each of the following costs (1-58)…

A: Cost classification refers to separation of the expenses group into various categories and this…

Q: 3. A P96,000 12%, 120 day note was received from a client dated Nov. 1, 2017. The interest was not…

A: Adjusting entry An adjusting entry refers to an entry that is made at the end of the accounting…

Q: 2) A purchase of equipment for $18 000 also involved freight charges of $500 and installation costs…

A: Formula: Straight line method = ( Asset value - Salvage value ) /Useful life years

Q: Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor…

A: ANSWER The weekly time tickets indicate the following distribution of labor hours for three direct…

Q: Suppose the following information was taken from the 2022 fınancial statements of FedEx Corporation,…

A: Account receivable turnover indicates the rate of collection of accounts receivable in a year.

Q: Halcyon Company just completed job number 10-B. See details below. Direct materials cost: $5,900…

A: The cost per unit of the finished product can be calculated by dividing the total cost of finished…

Q: Explain at least four significant differences between the two majority parties: the Republican and…

A: The Republican Party, also known as the GOP ("Grand Old Party"), is one of the two largest political…

Q: Franklin Company established a predetermined fixed overhead cost rate of $36 per unit of product.…

A: Formula: Fixed cost spending = Budgeted fixed overheads - Actual Fixed overheads

Q: The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as…

A: The cash flow statement is part of the financial statements of the company. It is prepared at the…

Q: Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your…

A: Solution:- 1)Calculation of Basic Earning per share as follows under:- Basic Earning per share =(Net…

Q: The ManU Hotel is located close to Manchester United's football stadium. It has a souvenir shop that…

A: Quarterly Purchases Budget for Hats Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units…

Q: The following items are reported on a company's balance sheet: Cash $161,300 Marketable securities…

A: Calculation of Current Ratio Current Ratio = Current Assets/ Current Liabilities Current Ratio =…

Q: Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has…

A: Final advantage (disadvantage) of buying 20000 carburetors will be difference of relevant cost to…

Q: A startup's accountant has just prepared the year-end income statement for its third year of…

A: Loss of the previous year will set off in the year of profit

Q: Boreal Landscape Corp. (BLC) is a landscape design company located in North York, Ontario, that…

A: Revenue Recognition According to Accounting Standard for Private Enterprises (ASPE) which provides…

Q: Prepare Job-Order Cost Sheets, Predetermined OverheadRate, Ending Balance of WIP, Finished Goods,…

A: Job costing is a way of accounting that allows you to keep track of the costs of different projects…

Q: SALLAT Household Furnishings & Appliances is a family-owned business. You are the management…

A: Accounts Receivables: Accounts receivables indicates the amounts which a company has still get to…

Q: Required: Identify the type of accounting change this decision represents and prepare the journal…

A: Solution:- Given, Accounting change:- Change in accounting principle, change in estimates and prior…

Q: QUESTION 11 planning should be based on the organization's strategic or master plan goals and…

A: Planning is the process of making plans to accomplish the desired goal. Planning is the primary step…

Q: Illu.1 : A Ltd. acquired B Ltd. Business with the following values. Rs. Fixed Asets 3,00,000…

A: Lets understand the basics. When one company acquire another company then acquirer company gives the…

Q: Payback, Net Present Value, Internal Rate of Return, Effects ofDifferences in Sales on Project…

A: The computation of given is shown as,

Q: Using the MACRS rate from the following table, what is the book value of a $3,500 computer after 5…

A: The book value at the end of 5 years is calculated as original cost less accumulated depreciation

Q: Use the following to answer questions 8 – 10 (Round answers to the nearest dollar) BZ Corp issues…

Q: 7. Noor, Tala and Sara are three partners 20,000 respectively on the same date Sara decide to…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Following is a list of cost terms described in the chapter as well as a list of brief descriptive…

A: Cost accounting is a type of accounting that tracks all of the expenses of production, including…

Q: • The July 31 bank statement indicated a cash balance of $9,610 • The cash ledger account on that…

A: Bank Statement: Bank Statement is a record maintained by a bank of a company in which that company…

Q: Consider the following information pertaining to OldWest's inventory: Net Realizable Value $157…

A: Formula: Inventory value = Quantity x lower of cost or NRV

Q: FIFO and weighted average. But what if a company wants to use LIFO to report its inventory because…

A: Introduction Dollar value of LIFO is an accounting method for valuation of inventory, this method…

Q: Opening Cash Balance Required Minimum Cash Balance Payment of Income taxes – 2nd Quarter…

A: A cash budget is an estimation of the future cash inflows and outflows of a business over a specific…

Q: On January 1, 20x4 Bobcat Coffee leased a smoothie machine from Smoothie LLC. Smoothie LLC purchased…

A: The above Lease Arrangement is an Operating Lease A Lease is classified as an Operating Lease if it…

Q: REQUIRED: Prepare in proper format a Cash Flow Statement for Alexis Inc., using the indirect method.

A: In the given question, financial statement of Alexis Inc is mentioned in detail. With the available…

Q: Marsteller Properties Inc. owns apartments that it rents to university students. At December…

A: Marsteller Properties Inc., as indicated in the inquiry, rents apartments to college students. The…

Q: Apex Chemicals Ltd acquires a delivery truck at a cost of $36,500 on 1 January 2016. The truck is…

A: Fixed assets are those assets which are held by the business for longer period of time for use in…

Q: Question 2 Kerry Furniture Ltd is a firm based in Birmingham. The company is famous for…

A: a. Particulars Amount (£per mattress) Sales 900 Less : Direct material 300 Less: Direct…

Q: TORRES COMPANY Cash Payments for Merchandise Purchases January February March Merchandise purchases…

A: Schedule of Cash payments for Merchandise Purchases for May, April and June TORRES COMPANY Cash…

Q: Identify the most important reasons for performing analytical procedures. b) Describe the broad…

A: Analytical procedure is the procedure which is carried out by the auditors at the preliminary stage…

Q: I'm having some trouble on the Trial Balance, I believe I entered the entries in incorrectly but I'm…

A: A trial balance is a statement prepared third in the accounting cycle by recording balances from…

Q: QUESTION 1: ORION LTD The following information has been taken from the budget for the forthcoming…

A: While calculating cost of a product direct material, direct labor and overheads are considered. For…

Q: On January 1, 2016, Matthew Company's work in process inventory account had a balance of $46,000.…

A: Cost accounting Cost accounting refers to the technique of ascertaining cost. In other words, cost…

Q: Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the…

A: Solution: Customer Due Date Number of Days Past Due Conover industries 9-Jul 144 Days…

Q: Davison Corporation, which has only one product, has provided the following data concerning its most…

A: Variable costing includes the cost which vary from output to ouput. It does not include the fixed…

Q: Fairfield Company management has budgeted the following amounts for its next fiscal year: Selling…

A: Contribution margin per unit = Selling price per unit - Variable expenses per unit Contribution…

Q: Required: (a) The business needs to have a sense of its future cash flows and therefore requires…

A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…

Q: For the year ending December 31, 2022, Sheridan Inc reports net income $147,000 and cash dividends…

A: Formula: Ending retained earnings balance = Beginning retained earnings balance + Net income -…

Q: 7 From the give trial balance prenare adiusting iournal ontries at the end of the vear:

A: In Accounting system after a specific accounting period we prepare…

Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

100%

Help please

Using the MACRS rates from the following table,
what is the book value of a $3,000 computer after 1
year?
Year MACRS Rate
1
20.0 %
32.0 %
19.2 %
11.52 %
11.52 %
book value = [ ? ]
Round to the nearest hundredth.
Enter
022 International Academy of Science. All Rights Reserved.
51

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

You deposit $2500 each year into an investment account that earns 8.5% interest for 20 years.Find the value of sn\i. Group of answer choices 11.76470588 16.87675201 51.10869654 48.37701323
If you deposit $2 comma 7002,700 today into an account earning an annual rate of return of 1313 percent, what will your account be worth in 4040 years (assuming no further deposits)? In 5050 years? Question content area bottom Part 1 Click on the table icon to view the FVIF table: LOADING... . In 4040 years, your account will be worth $enter your response here. (Round to the nearest cent.)
One latest CCTV is selling Rm8000 cash can purchase for 25% down and 24 monthly payment at 8% per annum on the original balance. Find the outstanding balance immediately after tenth Payment using rule 78
7. Please show all work and use answer choices included. _____________________________________________________________________________________________________ A promissory note calling for payments of $1,100 at the end of each year for the next 13 years is offered for sale for $11,000. What is the prospective rate of return nearly exactly at? A. 2% B. 4% C. 6% D. 8%
WhenyoubuyabondforPhP2,000anditpays3%annualinterestfor10years.Howmuchinterest payments would you receive every year? a. PhP 50 b. PhP6 c. PhP5 d. PhP 50
Payment amounts at the end of each of the next five years are $10,450, $8,500, $9,675, $12,500, and $11,635. Discount rate is 10.875%.We need to determine the cost in today's dollars of the equipment Saul purchased today. I really need the formulas on how you got to the answers =PV(D17,D13,-D15) I got the first on I do not understand the rest for the Present value and how the answer comes up with $38, 652.76 I have different ways and still do not understand.
Engineering Economics Eric borrowed P3, 500, 000 at 8% for 10 years. The loan stipulated that the following payments have to be made: P150, 000 at the end of the 1st year to the 3rd year; P200, 000 at the end of the 4th to the 5th year; P300, 000 at the end of the 6th to the 7th year; P400, 000 at the end of the 8th to the 9th year; and a final payment at the end of the 10th year. What should be the amount (Q) of the final payment?
An entrepreneur needs thousand of dollars to launch the global expansion of his software business. I have agreed to lend him the money today (n=0) at an interest rate of 8% compounded quarterly. I required that the loan be repaid in eight annual payments starting at Year 3 with a $10K payment. Subsequent payments will decrease by $1K each year thereafter. (1) What is the present value of the money being borrowed? (2) Convert your Present Value to Annual Payment. Answer: ieff (show in four decimal) = P0Total = A/P0Total =
I need the manual excel formula as well as the FV Excel Function. C. Suppose you save $2,800 a year for 43 years into an investment account that earn 8.5% return, how much will you have at the end of the periods? Formula $ ??? Excel Functon $1,066,616.08
Suppose you deposited $1,000 in a credit union account that pays 7% with dailycompounding and a 365-day year. What is the EFF%, and how much could youwithdraw after 7 months, assuming this is seven-twelfths of a year? [EFF% = (1 +0.07/365)365 - 1 = 0.07250098 = 7.250098%. Thus, your account would growfrom $1,000 to $1,000 (1.07250098)0.583333 = $1,041.67, and you could withdraw that amount.]
Suppose you earned a $595,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? Select the correct answer. a. $61,742.55 b. $61,751.25 c. $61,733.85 d. $61,716.45 e. $61,725.15
An entrepreneur needs thousand of dollars to launch the global expansion of his software business. I have agreed to lend him the money today (n=0) at an interest rate of 15% compounded continuously. I required that the loan be repaid in eight annual payments starting at Year 3 with a $20K payment. Subsequent payments will decrease by $1K each year thereafter. (1) What is the present value of the money being borrowed? (2) Convert your Present Value to Annual Payment. Answer: ieff = Blank 1 show in four decimal P0Total = $ Blank 2 A/P0Total = $ Blank 3