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Category > Accounting Posted 22 Apr 2017 My Price 10.00

Evergreen Corporation

48.   Evergreen Corporation (calendar-year-end) acquired the following assets during the current year (ignore §179 expense and bonus depreciation for this problem):

Asset                 Placed in Service Date   Original Basis

Machinery

October 25

$  70,000

Computer equipment

February 3

10,000

Used delivery truck*

August 17

23,000

Furniture

April 22

150,000

*The delivery truck is not a luxury automobile.

 

a)   What is the allowable MACRS depreciation on Evergreen’s property in the current year?

b)  What is the allowable MACRS depreciation on Evergreen’s property in the current year if the machinery had a basis of $170,000 rather than $70,000?

Answers

Alpha Geek
(8)
Status NEW Posted 22 Apr 2017 04:04 PM My Price 10.00

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file 1492879541-1385209_1_636283394040214749_MacRS-depreciation.xlsx preview (164 words )
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