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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Gadubhi
![Required information
Problem 10-53 (LO 10-2, LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2)
Asset
Machinery
Computer equipment
Used delivery truck
Furniture
Date Placed in
Service
October 25
February 3
Original
Basis
$ 100,000
32,500
August 17
April 22
45,500
187,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-53 Part a (Algo)
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense
and elects out of bonus depreciation?
Depreciation](https://content.bartleby.com/qna-images/question/7e2cce4c-e0e8-4afc-b01a-1da58c4b2857/615cf794-319c-4b43-9b0c-691539be559c/pntd83n_thumbnail.jpeg)
Transcribed Image Text:Required information
Problem 10-53 (LO 10-2, LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2)
Asset
Machinery
Computer equipment
Used delivery truck
Furniture
Date Placed in
Service
October 25
February 3
Original
Basis
$ 100,000
32,500
August 17
April 22
45,500
187,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-53 Part a (Algo)
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense
and elects out of bonus depreciation?
Depreciation
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