FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.)
Asset | Date Placed in Service | Original Basis |
---|---|---|
Machinery | October 25 | $ 90,000 |
Computer equipment | February 3 | 25,000 |
Used delivery truck* | August 17 | 38,000 |
Furniture | April 22 | 175,000 |
*The delivery truck is not a luxury automobile.
b. What is the allowable depreciation on Evergreen’s property in the current year if Evergreen does not elect out of bonus depreciation?
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