Required information [The following information applies to the questions displayed below.] DLW Corporation acquired and placed in service the following assets during the year: Cost Basis Date Acquired 2/24 4/17 $ 12,000 $ 26,400 $ 264,000 11/5 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. What is DLW's year 1 cost recovery for each asset? Asset Computer equipment Furniture Commercial building Total Year 1 Cost Recovery $ $ $ $ 2,400 3,773 845 7,018

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 5/25 of year 3?
Asset
Computer equipment
Furniture
Commercial building
Total
Year 3
Cost Recovery
$
$
$
$
1,152
2,309
282
3,743
Transcribed Image Text:b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 5/25 of year 3? Asset Computer equipment Furniture Commercial building Total Year 3 Cost Recovery $ $ $ $ 1,152 2,309 282 3,743
!
Required information
[The following information applies to the questions displayed below.]
DLW Corporation acquired and placed in service the following assets during the year:
Date Acquired
2/24
4/17
Cost Basis
$ 12,000
$ 26,400
$ 264,000
11/5
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.)
Note: 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
Computer equipment
Furniture
Commercial building
Total
Year 1
Cost Recovery
$
$
$
$
2,400
3,773
845
7,018
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] DLW Corporation acquired and placed in service the following assets during the year: Date Acquired 2/24 4/17 Cost Basis $ 12,000 $ 26,400 $ 264,000 11/5 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.) Note: 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 Computer equipment Furniture Commercial building Total Year 1 Cost Recovery $ $ $ $ 2,400 3,773 845 7,018
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