At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers office desks Machinery office building Date Acquired 1/30 2/15 Asset Assuming Anna 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.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Computers Office desks Machinery Office building Total 7/25 8/13 Problem 10-48 Part b (Algo) What is Anna's year 2 cost recovery for each asset? Cost Basis $ 52,000 $56,000 $ 99,000 $ 432,000 $ Year 2 Cost Recovery

At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers office desks Machinery office building Date Acquired 1/30 2/15 Asset Assuming Anna 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.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Computers Office desks Machinery Office building Total 7/25 8/13 Problem 10-48 Part b (Algo) What is Anna's year 2 cost recovery for each asset? Cost Basis $ 52,000 $56,000 $ 99,000 $ 432,000 $ Year 2 Cost Recovery

Name: Subject: accounting At the beginning of the year, Anna began a calenda
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Description: Subject: accounting At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during theyear:AssetComputersOffice desksMachineryoffice buildingAssuming Anna does not elect $179 expensing and elects n

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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