Homework Answers
| 15% extra is given as per tax rules | |||
| As per books depreciation rate is 30% | |||
| and for tax purpose is 45%. | |||
| As per the information provided I am assuming that | |||
| the cost in 2015 is the first year cost | |||
| Depreciation as per books | 310000 | ||
| ((1000000-300000)*30%)+(400000*30%*10/12) | |||
| Depreciation as per tax rules | |||
| ((1000000-450000)*45%)+(400000*45%*10/12) | 397500 | ||
| Excess depreciation that would decrease the taxable income | 87500 | answer | |
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. ABC is an Egyptian corporation that had the following information at the end of 2015...
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