In December of 20×4, Memphis Plastics sold a forklift for $9,255. The machine was purchased in 20×1 for $50,000. Since then $38,845 in depreciation has been recorded on the forklift. Required: 1. What was the forklift’s book value at the time of sale? 2. Compute the gain or loss on the sale. 3. Determine the after-tax cash flow at the time the forklift was sold. The firm’s tax rate is 45 percent.
https://papertowriters.com/wp-content/uploads/2020/07/Writerspng-300x62.png 0 0 admin https://papertowriters.com/wp-content/uploads/2020/07/Writerspng-300x62.png admin2021-10-29 12:37:482021-10-29 12:37:48In December of 20x4, Memphis Plastics sold a forklift for $9,255. The machine was purchased in 20x1. 1 answer below »