Question & Answer: Berry Ltd has an asset which cost $1920 and against which depreciation of $873 has accumulated. The accu…..

Berry Ltd has an asset which cost $1920 and against which depreciation of $873 has accumulated. The accumulated depreciation for tax purposes is $783 and the company tax rate is 30%. The tax base of this asset is:

Expert Answer

Tax Base of the asset is

Cost – Accumulated Depreciation for tax purposes

1920 – 783 = 1137

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