- Required Information Tableau Dashboard Activity 8 1 Computing Depreciation Under Alternative Methods Lo 8 3 The Followin 1 (30.61 KiB) Viewed 28 times
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Year Year 2 Years Yoar Yoara tableau TO Tableau Dashboard Activity 8-1 Part 2 Strong Metals Inc. purchased a new stamping machine at the beginning of the year. Strong estimated the residual value to be $50,000, the useful life to be five years, and the productive life to be 300.000 units. You are hired as a consultant to assist Strong's management with understanding the impact of each depreciation method to assist the management team in selecting a method to apply for the new machine To do your analysis, review the Depreciation Expense per Year tab of the Tableau Dashboard. Required: 1. If management wants to maximize reported net income in Year 1, which method should the company select? 2. The internal Revenue Code and GAAP allow the manager to choose different methods for tax accounting and financial reporting purposes a. Which method would result in the lowest taxes paid in Year 1? b. In Year 32 3. Assume that all of the indicated methods are acceptable for tax accounting purposes. Based on the least and the latest rule, which method would you recommend that management adopts for tax purposes? 4. What is total depreciation expense over the five years under each method? 5. Which method provides for the most consistent total expenses across the five-year period? 6. Assuming a 25 percent tax rate, what would be the difference in taxes paid in Year 4 between applying the double-declining balance method compared to applying the straight-line method? < Prey 3 of 3 !! Next
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Assuming a 25 percent tax rate, what would be the difference in taxes paid in Year 4 between applying the double-declining- balance method compared to applying the straight-line method? The straight-line method would The double-declining balance method would taxes by taxes by < Required 5 Requiredo
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Which method provides for the most consistent total expenses across the five-year period, assuming all other expenses are the same each period? Method < Required 4 Required 6 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requirekt 4 Required 5 Required 6 What is total depreciation expense over the five years under each method? Straight-line method: Double-declining balance method: Units-of-production method: < Required 3 Required 5 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 os Assume that all of the Indicated methods are acceptable for tax accounting purposes. Based on the least and the latest rule, which method would you recommend that management adopts for tax purposes? Method (Required 2 Required 4 >
00:35 Complete this question by entering your answers in the tabs below. ped Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 bok nt The Internal Revenue Code and GAAP allow the manager to choose different methods for tax accounting and financial reporting purposes. a. Which method would result in the lowest taxes paid in Year 1? b. In Year 3? Ences Show less a. Which method would result in the lowest taxes paid in Year 1? b. In Year 3? < Required 1 Required 3 >
Required information 3. Assume that all of the indicated methods are acceptable for tax accounting purposes. Based on the least and the latest rule, whic method would you recommend that management adopts for tax purposes? 4. What is total depreciation expense over the five years under each method? 5. Which method provides for the most consistent total expenses across the five-year period? 6. Assuming a 25 percent tax rate, what would be the difference in taxes paid in Year 4 between applying the double-declining- balance method compared to applying the straight-line method? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 to maximize reported net income in Year 1, which method should the company select? If manage WE Method Required 1 Required 2 >