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Category > Accounting Posted 29 Apr 2017 My Price 3.00

Compute the expected change in income taxes

The taxable income for a motorcycle sales and repair business is estimated to be $150,000 this year. A single-value tax rate of 39% is used. A new engine diagnostics system will cost $40,000 and have an average annual depreciation of $8000. The equipment will increase gross income by an estimated $9000 and expenses by $2000 for the year.

Compute the expected change in income taxes for the year if the new system is purchased.

 

Nov 13 2015 0

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Alpha Geek
(8)
Status NEW Posted 29 Apr 2017 06:04 AM My Price 3.00

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file 1493448442-Answer.docx preview (110 words )
T-----------he -----------tax-----------abl-----------e i-----------nco-----------me -----------for----------- a -----------mot-----------orc-----------ycl-----------e s-----------ale-----------s a-----------nd -----------rep-----------air----------- bu-----------sin-----------ess----------- is----------- es-----------tim-----------ate-----------d t-----------o b-----------e $-----------150-----------,00-----------0 t-----------his----------- ye-----------ar.----------- A -----------sin-----------gle------------va-----------lue----------- ta-----------x r-----------ate----------- of----------- 39-----------% i-----------s u-----------sed-----------. A----------- ne-----------w e-----------ngi-----------ne -----------dia-----------gno-----------sti-----------cs -----------sys-----------tem----------- wi-----------ll -----------cos-----------t $-----------40,-----------000----------- an-----------d h-----------ave----------- an----------- av-----------era-----------ge -----------ann-----------ual----------- de-----------pre-----------cia-----------tio-----------n o-----------f $-----------800-----------0. -----------The----------- eq-----------uip-----------men-----------t w-----------ill----------- in-----------cre-----------ase----------- gr-----------oss----------- in-----------com-----------e b-----------y a-----------n e-----------sti-----------mat-----------ed -----------$90-----------00 -----------and----------- ex-----------pen-----------ses----------- by----------- $2-----------000----------- fo-----------r t-----------he -----------yea-----------r. ----------- Co-----------mpu-----------te -----------the----------- ex-----------pec-----------ted----------- ch-----------ang-----------e i-----------n i-----------nco-----------me -----------tax-----------es -----------for----------- th-----------e y-----------ear----------- if----------- th-----------e n-----------ew -----------sys-----------tem----------- is----------- pu-----------rch-----------ase-----------d.
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