Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Asset Placed in Service Machinery Computer equipment Delivery Truck-used Furniture Total Basis June 12 February 10 August 21 April 2 $ 1,440,000 70,000 93,000 310,000 $ 1,913,000 b. What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in service in 2023?
Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179 expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.) Asset Placed in Service Machinery Computer equipment Delivery Truck-used Furniture Total Basis June 12 February 10 August 21 April 2 $ 1,440,000 70,000 93,000 310,000 $ 1,913,000 b. What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in service in 2023?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 10RE: Assume the same information as in RE11-3, except that Albany Corporation purchased the asset on...
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![Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179
expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus
depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
Asset
Placed in
Service
Machinery
Computer equipment
Delivery Truck-used
Furniture
Total
Basis
June 12
February 10
August 21
April 2
$ 1,440,000
70,000
93,000
310,000
$ 1,913,000
b. What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in
service in 2023?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F95c53369-4762-4bcc-9cbf-e89060916678%2F96831e2e-63fa-4b25-aa56-8954c534510c%2Ftio26wh_processed.png&w=3840&q=75)
Transcribed Image Text:Assume that Sivart Corporation has 2023 taxable income of $1,750,000 for purposes of computing the $179
expense and acquired several assets during the year. Assume the delivery truck does not qualify for bonus
depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
Asset
Placed in
Service
Machinery
Computer equipment
Delivery Truck-used
Furniture
Total
Basis
June 12
February 10
August 21
April 2
$ 1,440,000
70,000
93,000
310,000
$ 1,913,000
b. What is the maximum total depreciation (§179, bonus, MACRS) that Sivart may deduct in 2023 on the assets it placed in
service in 2023?
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