Deferred Taxes at Obadiah Vineyard(9-107-035)

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  • Topic: Depreciation, 1916, 1913
  • Pages : 3 (619 words )
  • Download(s) : 199
  • Published : July 25, 2012
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Incomestmt-tax basis| | | | | | | | | |
| 2005| 2006| 2007| 2008| 2009| 2010| | | | |
Projected Sales| 25.375| 32.25| 45| 65| 80| 95| | | | | Sale price| 3200| 3200| 3200| 3200| 3200| 3200| | | | | Revenue| 81200| 103200| 144000| 208000| 256000| 304000| | | | | Labor Expense| 32250| 32250| 95000| 95000| 95000| 95000| | | | | Gross margin| 48950| 70950| 49000| 113000| 161000| 209000| | | | | Less| | | | | | | | | | |

Depriciation| 30,326 | 24,261 | 67,107 | 101,363 | 82,468 | 68,733 | | | | | Interest| 37,174 | 35,913 | 34,575 | 33,153 | 31,642 | 30,037 | | | | | SG&A| 2,100 | 2,100 | 5,000 | 5,000 | 5,000 | 5,000 | | | | | Taxable Income| (20,650)| 8,676 | (57,682)| (26,516)| 41,890 | 105,230 | | | | | Less: Tax @40% payable before NOL| | 3470.352| | | 16756.04| 42091.928| | | | | Tax impact on NOL carryforward| | (3470.35)| | | (16756.04)| (42091.93)| | | | | Net Tax basis Income| (20,650)| 8,676 | (57,682)| (26,516)| 41,890 | 105,230 | | | | | | | | | | | | | | | |

Balancesheet| | | | | | | | | | |
| | | | | | | | | | |
Cash| | | | | | | | | | |
AR| | | | | | | | | | |
TCA| | | | | | | | | | |
PP&E| will increse by new asset from 2005| | | | | | | Accumulated depreciation| | | acc to dep. Schedule,changes will occur from 2007,shown in Dep schedule| | | | | | | | | | | | |

Secured LTD| | Loan from bakn from 2005 will be added| | | | | | Common stock| | | | | | | | | | |
Accumulated deficit| (169,123)| (160,448)| (218,130)| (244,646)| (202,756)| (97,526)| | | | | TL&E| | | | | | | | | | |

Depriciation schedule
| New(14000*25.1+2*62750)| Old| | | | | | | | | | | Total Asset cost| 476900| 210600| | | | | | | |...
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