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Category > Business & Finance Posted 10 May 2017 My Price 5.00

Debra acquired the following new assets during 2013

Debra acquired the following new assets during 2013:

Date Asset Cost
April 11 Office Furniture $40,000
July 28 Trucks 40,000
November 3 Computers 70,000

 

Debra does not elect immediate expensing under A?§ 179. She does take the additional first-year depreciation.

If required, round your answers to the nearest dollar. Click here to access Table 8.1 andTable 8.2 of the textbook.

a. What MACRS convention applies to the assets?
Select Mid-quarter Mid-month Half-year Item 1

 

b. What class of property is each asset for MACRS?
Select Furniture, seven-year; trucks, five-year; computers, five-year Furniture, five-year; trucks, three-year; computers, three-year Furniture, seven-year; trucks, three-year; computers, five-year Furniture, five-year; trucks, five-year; computers, five-year Item 2

 

c. The cost recovery for the current year is:

Furniture: $
Trucks: $
Computers: $
 

Answers

Alpha Geek
(8)
Status NEW Posted 10 May 2017 01:05 PM My Price 5.00

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