25 Problem 10-46 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Problem 10-46 Part a (Algo) Date Acquired 3/23 5/12 9/17 10/11 10/11 Assuming Poplock 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. Leave no answer blank. Enter zero if applicable. Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Total Cost Basis $ 7,400 9,400 10,000 294,000 104,000 a. What is Poplock's year 1 depreciation deduction for each asset? Depreciation Deduction
25 Problem 10-46 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Problem 10-46 Part a (Algo) Date Acquired 3/23 5/12 9/17 10/11 10/11 Assuming Poplock 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. Leave no answer blank. Enter zero if applicable. Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Total Cost Basis $ 7,400 9,400 10,000 294,000 104,000 a. What is Poplock's year 1 depreciation deduction for each asset? Depreciation Deduction
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dog
![After Class 16 i
2
Part 1 of 2
eBook
B
Hint
Print
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References
Problem 10-46 (LO 10-2) (Algo)
[The following information applies to the questions displayed below.]
At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock
bought and placed in service the following assets during the year:
Asset
Computer equipment
Dog-grooming furniture
Pickup truck
Commercial building.
Land (one acre).
Date Acquired
3/23
5/12
9/17
10/11
10/11
Asset
Computer equipment
Dog-grooming furniture
Pickup truck
Commercial building
Land (one acre)
Total
Cost Basis
$ 7,400
9,400
10,000
294,000
104,000
Assuming Poplock 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.)
Saved
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no
answer blank. Enter zero if applicable.
Problem 10-46 Part a (Algo)
a. What is Poplock's year 1 depreciation deduction for each asset?
Depreciation
Deduction
Help
Sav](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d158d98-5f96-411d-91fb-61c3e9643a73%2Fa8ae1845-4f98-471b-a0e0-de7fdcb6b890%2F6440z6e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:After Class 16 i
2
Part 1 of 2
eBook
B
Hint
Print
ច
References
Problem 10-46 (LO 10-2) (Algo)
[The following information applies to the questions displayed below.]
At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock
bought and placed in service the following assets during the year:
Asset
Computer equipment
Dog-grooming furniture
Pickup truck
Commercial building.
Land (one acre).
Date Acquired
3/23
5/12
9/17
10/11
10/11
Asset
Computer equipment
Dog-grooming furniture
Pickup truck
Commercial building
Land (one acre)
Total
Cost Basis
$ 7,400
9,400
10,000
294,000
104,000
Assuming Poplock 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.)
Saved
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no
answer blank. Enter zero if applicable.
Problem 10-46 Part a (Algo)
a. What is Poplock's year 1 depreciation deduction for each asset?
Depreciation
Deduction
Help
Sav
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