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7/1/x1 - Purchased depreciable asset Cost: 30,000 Ignore Salvage Value Useful Life: 6 years Tax life: 4 years Straight-line depreciation - book & tax Pretax
7/1/x1 - Purchased depreciable asset Cost: 30,000 Ignore Salvage Value Useful Life: 6 years Tax life: 4 years Straight-line depreciation - book & tax Pretax Al: $10.000 Tax Rate: 40% 20x1, 35% after 20x3 Assume no additional temporary differences occur and that each year following 20x4 pretax accounting income is $12,000. Schedule the tax consequences and record them for 20x5 - 20x7.
7/1/x1 - Purchased depreciable asset
Cost: 30,000
Ignore Salvage Value
Useful Life: 6 years
Tax life: 4 years
Straight-line depreciation - book & tax
Pretax Al: $10.000
Tax Rate: 40% 20x1, 35% after 20x3
Assume no additional temporary differences occur and that each year following 20x4 pretax accounting income is $12,000. Schedule the tax consequences and record them for 20x5 - 20x7.
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
