suppose the asset bought for $100,000 has been sold for $100000 after two years. which of the following statement is most accurate?
I- there is capital gain
II- there is capital loss
III- there is depreciation recapture
2- Suppose the asset has been sold for $110,000 after two years. Initial purchase price of $100,000, a gross income of $40,000, a current book value of $60,000, a depreciation amount of $10,000, and tax rate of 50%. What is the taxable income?
3- A truck was purchased 3 years ago for $45,000 and can be sold today for $24,000. The operating costs are $9,000 per year, and it is expected to last 4 more years with a $5,000 salvage value. A new truck, which will perform that same service, can be purchased for $50,000, and it will have a life of 10 years with operating costs of $28,000 per year and a $10,000 salvage value. What is the value that should be used as P for the presently owned vehicle in a replacement study?
4- an asset was acquired by Hugo and Sons for a first cost of $100000 via a 10% per year loan that needs to be paid back using equal uniform amounts at the end of each year in 2 years. The amount of interest paid for the first year on this loan is?
5- an asset was acquired by Hugo and Sons for a first cost of $100000 via a 10% per year loan that needs to be paid back using equal uniform amounts at the end of each year in 2 years. In the first year, the company claimed $60,000 depreciation. If the gross income is $200,000 and operating expenses are $50,000, then the taxable income is?
suppose the asset bought for $100,000 has been sold for $100000 after two years. which of the following statement is most accurate?
I- there is capital gain
II- there is capital loss
III- there is depreciation recapture
2- Suppose the asset has been sold for $110,000 after two years. Initial purchase price of $100,000, a gross income of $40,000, a current book value of $60,000, a depreciation amount of $10,000, and tax rate of 50%. What is the taxable income?
3- A truck was purchased 3 years ago for $45,000 and can be sold today for $24,000. The operating costs are $9,000 per year, and it is expected to last 4 more years with a $5,000 salvage value. A new truck, which will perform that same service, can be purchased for $50,000, and it will have a life of 10 years with operating costs of $28,000 per year and a $10,000 salvage value. What is the value that should be used as P for the presently owned vehicle in a replacement study?
4- an asset was acquired by Hugo and Sons for a first cost of $100000 via a 10% per year loan that needs to be paid back using equal uniform amounts at the end of each year in 2 years. The amount of interest paid for the first year on this loan is?
5- an asset was acquired by Hugo and Sons for a first cost of $100000 via a 10% per year loan that needs to be paid back using equal uniform amounts at the end of each year in 2 years. In the first year, the company claimed $60,000 depreciation. If the gross income is $200,000 and operating expenses are $50,000, then the taxable income is?
