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 Asset Date Acquired 1/30 2/15 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. What is Anna's year 2 cost recovery for each asset? Year 2 Cost Recovery Computers Office desks 7/25 8/13 Machinery Office building Total Cost Basis $ 28,000 $ 32,000 $ 75,000 $ 400,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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
Asset
Date Acquired
1/30
2/15
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.)
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar
amount.
b. What is Anna's year 2 cost recovery for each asset?
Computers
Office desks
7/25
8/13
Machinery
Office building
Total
Cost Basis
$ 28,000
$ 32,000
$ 75,000
$ 400,000
Year 2
Cost Recovery
Transcribed Image Text: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 Asset Date Acquired 1/30 2/15 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.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. b. What is Anna's year 2 cost recovery for each asset? Computers Office desks 7/25 8/13 Machinery Office building Total Cost Basis $ 28,000 $ 32,000 $ 75,000 $ 400,000 Year 2 Cost Recovery
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