DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Furniture Commercial building Date Acquired 2/26 2/26 12/20 Cost Basis $ 19,500 $ 18,000 $ 341,000 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.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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[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
Transcribed Image Text:[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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