DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 3/14. S 16,500 Furniture 2/15 S 18,500 Commercial building 12/16 S 339,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 5/21 of year 3? computer equipment: furniture: commercial building: Total:

DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 3/14. S 16,500 Furniture 2/15 S 18,500 Commercial building 12/16 S 339,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 5/21 of year 3? computer equipment: furniture: commercial building: Total:

Name: DLW Corporation acquired and placed in service the following assets d
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Description: DLW Corporation acquired and placed in service the following assets during the year:DateCostAssetAcquired BasisComputer equipment 3/14S16,500Furniture2/15S18,500Commercial building12/16S339,000Assuming DLW does not elect §179 expensing and elects no

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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DLW Corporation acquired and placed in service the following assets during the year: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Asset Date Acquired Cost Basis Computer 2/19 $ 16,300 equipment Furniture 4/27 22,900 Commercial building 10/2 319,000 Assuming DLW does not elect §179 expensing or bonus depreciation, answer the following questions: a. What is DLW's year 1 cost recovery for each asset? (Round your answers to the nearest dollar amount.) b. What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 1/15 of year 3?(Round your answers to the nearest dollar amount.)
[The following information applies to the questions displayed below.] Dog Co. acquired and placed in service the following assets during the year: Date Cost Asset Placed in Service Basis Computer equipment 3/9 $ 15,800 Furniture 5/23 23,200 Commercial building 10/19 347,000 Assuming Dog Co. does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. What is Dog Co.'s year 3 cost recovery for each asset if Dog Co. sells all of these assets on 4/16 of year 3?
DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 2/17 $ 10,000 Furniture 5/12 $ 17,000 Commercial building 11/1 $ 270,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 1/23 of year 3?
[The following information applies to the questions displayed below.] DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Furniture Commercial building Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is DLW's year 1 cost recovery for each asset? Asset Date Acquired 2/26 2/26 12/20 Computer equipment Furniture Commercial building Total Year 1 Cost Recovery $ Cost Basis $ 19,500 $ 18,000 $ 341,000 3,900 2,572 9,050 15,522
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Required information [The following information applies to the questions displayed below.] DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Furniture Commercial building Date Acquired 3/4 3/28 10/14 Assuming DLW does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Asset Computer equipment Furniture Commercial building Total Cost Basis $ 18,200 $ 20,300 $ 306,000 b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 2/27 of year 3? Year 3 Cost Recovery