a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense and elects out of bonus depreciation? Depreciation
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense and elects out of bonus depreciation? Depreciation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Problem 10-53 (LO 10-2, LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2)
Asset
Machinery
Computer equipment
Used delivery truck
Furniture
Date Placed in
Service
October 25
February 3
Original
Basis
$ 100,000
32,500
August 17
April 22
45,500
187,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-53 Part a (Algo)
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense
and elects out of bonus depreciation?
Depreciation](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7e2cce4c-e0e8-4afc-b01a-1da58c4b2857%2F615cf794-319c-4b43-9b0c-691539be559c%2Fpntd83n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Problem 10-53 (LO 10-2, LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2)
Asset
Machinery
Computer equipment
Used delivery truck
Furniture
Date Placed in
Service
October 25
February 3
Original
Basis
$ 100,000
32,500
August 17
April 22
45,500
187,500
The delivery truck is not a luxury automobile.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-53 Part a (Algo)
a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect §179 expense
and elects out of bonus depreciation?
Depreciation
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