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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.

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