Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business.       FMV at Time   Purchase Converted to Asset  Price Business Use Computer $ 6,900 $ 5,200 Printer   4,700   4,550 Desk   5,600   5,400 File cabinet   4,600   4,625   Using the above information, what is the depreciable basis that Brittany should use in her business for each asset?                           ASSET                 DEPRECIABLE BASIS Computer Printer Desk File Cabinet

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business.


 

    FMV at Time
  Purchase Converted to
Asset  Price Business Use
Computer $ 6,900 $ 5,200
Printer   4,700   4,550
Desk   5,600   5,400
File cabinet   4,600   4,625

 


Using the above information, what is the depreciable basis that Brittany should use in her business for each asset?

                          ASSET                 DEPRECIABLE BASIS

Computer

Printer

Desk

File Cabinet

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