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At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 $ $ $ $ $ 56,000 X 4,573✔ 10,718 Machinery Office building Total 75,131 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Cost Basis $28,000 $32,000 $75,000 $400,000 3,840 x At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Computers Office desks Machinery Office building Total Date Acquired 1/30 2/15 7/25 8/13 and Year 1 Cost Recovery $ 56,000 C S 4,573 S 10.718 S 3,840 S 75,131 response was expected in a caer a formule besed Cost Basis $ 28,000 $32,000 $75,000 $ 400,000

At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 $ $ $ $ $ 56,000 X 4,573✔ 10,718 Machinery Office building Total 75,131 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Cost Basis $28,000 $32,000 $75,000 $400,000 3,840 x At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Computers Office desks Machinery Office building Total Date Acquired 1/30 2/15 7/25 8/13 and Year 1 Cost Recovery $ 56,000 C S 4,573 S 10.718 S 3,840 S 75,131 response was expected in a caer a formule besed Cost Basis $ 28,000 $32,000 $75,000 $ 400,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 17P: On December 31, 2019, Vail Company owned the following assets: Vail computes depreciation and...
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At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 $ $ $ $ $ 56,000 X 4,573 10,718 Machinery Office building Total 75,131 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Cost Basis $28,000 $ 32,000 $75,000 $ 400,000 3,840 x At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery office building Asset Asset a. What is Anna's year 1 cost recovery for each asset? Assuming Anna 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) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Computers Office desks Machinery 10.718 Office building 3,840 Total $ 75,131 ed text indicates no response was expected in a celor a formula bel cacation, to pa delated $ $ Asset Computers Office desks Machinery office building Date Acquired 1/30 2/15 7/25 8/13 Show Transcribed Text Asset Year 1 Cost Recovery 56,000 4,573 $ S Date Acquired 1/30 2/15 7/25 8/13 5 At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery $ 56,000 $ 4,573 Cost Basis $ 28,000 $ 32,000 Computers Office desks Machinery Office building Total 75,131 hd test test response was expected in a cet or a formule-bed incerect, ne potseduted $ 75,000 $ 400,000 I$ 10,718 S 3,840 s C 5 Assuming Anna 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) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Cost Basis $ 28,000 $ 32,000 $ 75,000 $ 400,000
Transcribed Image Text:At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery Computers Office desks Date Acquired 1/30 2/15 7/25 8/13 $ $ $ $ $ 56,000 X 4,573 10,718 Machinery Office building Total 75,131 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Cost Basis $28,000 $ 32,000 $75,000 $ 400,000 3,840 x At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery office building Asset Asset a. What is Anna's year 1 cost recovery for each asset? Assuming Anna 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) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Computers Office desks Machinery 10.718 Office building 3,840 Total $ 75,131 ed text indicates no response was expected in a celor a formula bel cacation, to pa delated $ $ Asset Computers Office desks Machinery office building Date Acquired 1/30 2/15 7/25 8/13 Show Transcribed Text Asset Year 1 Cost Recovery 56,000 4,573 $ S Date Acquired 1/30 2/15 7/25 8/13 5 At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery $ 56,000 $ 4,573 Cost Basis $ 28,000 $ 32,000 Computers Office desks Machinery Office building Total 75,131 hd test test response was expected in a cet or a formule-bed incerect, ne potseduted $ 75,000 $ 400,000 I$ 10,718 S 3,840 s C 5 Assuming Anna 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) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Cost Basis $ 28,000 $ 32,000 $ 75,000 $ 400,000
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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