Levels Tought:
Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
Last Sign in: | 304 Weeks Ago, 5 Days Ago |
Questions Answered: | 66690 |
Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Evergreen Corporation (calendar-year-end) acquired the following assets during the current year (ignore A?§179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and Table 2.)
Â
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. |
Â
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? |
Â
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll