FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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DLW Corporation acquired and placed in service the following assets during the year:
Date Acquired
3/2
2/22
9/10
Cost Basis
$ 11,000
$ 22, 600
$ 275, 000
Asset
Computer equipment
Furniture
Commercial building
Assuming DLW does not elect 5179 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 recovep for each asset?
Yoar 1
Asset
Cost Recovery
Computer equipment
Furniture
Commercial building
Total
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Transcribed Image Text:DLW Corporation acquired and placed in service the following assets during the year: Date Acquired 3/2 2/22 9/10 Cost Basis $ 11,000 $ 22, 600 $ 275, 000 Asset Computer equipment Furniture Commercial building Assuming DLW does not elect 5179 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 recovep for each asset? Yoar 1 Asset Cost Recovery Computer equipment Furniture Commercial building Total
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