An asset owned by Horizon Enterprises has an original basis of $30,000, and depreciation of $18,000 has been claimed on the asset. If the asset's adjusted basis is $20,000, what is the amount of capital improvements that have been made to the asset? a. $8,000 b. $10,000 c. $12,000 d. $18,000

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MCQ

4. An asset that is book-depreciated over a 5-year period by the straight-linemethod has BV3 = ₱ 62,000 with a depreciation charge of ₱ 26,000 peryear. Determine (a) the first cost of the asset and (b) the assumed salvagevalue

A company purchased an asset for $3,700.000 that will be used in a 3-year project. The asset is in the 3-year MACRS class. The depreciation percentage each year is 33.33 percent. 44.45 percent, and 14.81 percent, respectively What is the book value of the equipment at the end of the project? Multiple Choice $3.425.830 $274,170 $2.466,790

A fixed asset with a cost of $33,769.00 and accumulated depreciation of $30,392.10 is sold for $5,740.73. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. $2,363.83 gain $2,363.83 loss $3,376.90 loss $3,376.90 gain

A fixed asset with a cost of $32,167.00 and accumulated depreciation of $28,950.30 is sold for $5,468.39. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. A. $2,251.69 loss   B. $2,251.69 gain   C. $3,216.70 gain   D. $3,216.70 loss

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A. CALCULATE the amount, if any, of recapture of depreciation, ordinary loss or capital gain on the disposal of an asset that was sold at the end of year 1 for $ 18,000. The machine was originally purchased at a cost of $ 20,000 and was depreciated using the MACRS method for a 5 year property class. B. INDICATE if there was recapture of depreciation (D), ordinary loss (P) or capital gain (G) in the disposal of this asset. [fill these blanks] * Amount = $. ___- * Type of disposition: