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John, a junior accountant, just finished recording the company's draft financial statements
for the year. He presented his results to his boss who said, "Good job, but you forgot that
we purchased a new industrial compressor for $200,000 at the beginning of the year with
an 8-year straight line depreciation schedule". Assume the company's tax rate is 25%. After
John makes his correction,
John, a junior accountant, just finished recording the company's draft financial statements
for the year. He presented his results to his boss who said, "Good job, but you forgot that
we purchased a new industrial compressor for $200,000 at the beginning of the year with
an 8-year straight line depreciation schedule". Assume the company's tax rate is 25%. After
John makes his correction,
John, a junior accountant, just finished recording the company's draft financial
statements for the year. He presented his results to his boss who said, "Good job, but you
forgot the 7 year, $100,000, 8% loan we took out at the beginning of the year. It came
with a mandatory partial principal pay down of 10% of the original principal at the end of
each year. We also paid a $5,000 dividend to our shareholders this year. The rest of your
work looks great". Assume the company's tax rate is 25%. After John makes his
corrections,
John, a junior accountant, just finished recording the company's draft financial
statements for the year. He presented his results to his boss who said, "Good job, but you
forgot the 7 year, $100,000, 8% loan we took out at the beginning of the year. It came
with a mandatory partial principal pay down of 10% of the original principal at the end of
each year. We also paid a $5,000 dividend to our shareholders this year. The rest of your
work looks great". Assume the company's tax rate is 25%. After John makes his
corrections,