Complete the Form 4562 using the following information provided. Himple Retail Fixed Asset Rollforward 12/31/2019 (book basis) DEPR COST 2017 2018 2019 ACCUM NET BOOK ASSET IN SERVICE METHOD LIFE BASIS DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 2017 TOTAL ADDITIONS 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 RETAIL FIXTURES 10/12/2018 SL 7 4,750.00 169.64 678.57 848.21 3,901.79 FURNITURE 10/12/2018 SL 7 3,900.00 139.29 557.14 696.43 3,203.57 2018 TOTAL ADDITIONS 8,650.00 - 308.93 1,235.71 1,544.64 7,105.36 TOTAL 18,550.00 1,815.00 2,288.93 3,215.71 7,319.64 11,230.36 DELIVERY TRUCK 6/1/2019 SL 5 37,500.00 4,375.00 4,375.00 33,125.00 DESK AND CABINETRY 6/1/2019 SL 7 11,900.00 991.67 991.67 10,908.33 COMPUTER 6/1/2019 SL 5 2,800.00 326.67 326.67 2,473.33 2019 TOTAL ADDITIONS 52,200.00 - - 5,693.34 5,693.34 46,506.66 TOTAL
Complete the Form 4562 using the following information provided. Himple Retail Fixed Asset Rollforward 12/31/2019 (book basis) DEPR COST 2017 2018 2019 ACCUM NET BOOK ASSET IN SERVICE METHOD LIFE BASIS DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 2017 TOTAL ADDITIONS 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 RETAIL FIXTURES 10/12/2018 SL 7 4,750.00 169.64 678.57 848.21 3,901.79 FURNITURE 10/12/2018 SL 7 3,900.00 139.29 557.14 696.43 3,203.57 2018 TOTAL ADDITIONS 8,650.00 - 308.93 1,235.71 1,544.64 7,105.36 TOTAL 18,550.00 1,815.00 2,288.93 3,215.71 7,319.64 11,230.36 DELIVERY TRUCK 6/1/2019 SL 5 37,500.00 4,375.00 4,375.00 33,125.00 DESK AND CABINETRY 6/1/2019 SL 7 11,900.00 991.67 991.67 10,908.33 COMPUTER 6/1/2019 SL 5 2,800.00 326.67 326.67 2,473.33 2019 TOTAL ADDITIONS 52,200.00 - - 5,693.34 5,693.34 46,506.66 TOTAL
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Complete the Form 4562 using the following information provided.
Himple Retail Fixed Asset Rollforward 12/31/2019 (book basis) |
||||||||||||
DEPR | COST | 2017 | 2018 | 2019 | ACCUM | NET BOOK | ||||||
ASSET | IN SERVICE | METHOD | LIFE | BASIS | DEPR | DEPR | DEPR | DEPR | VALUE | |||
CASH REGISTER | 2/15/2017 | SL | 5 | 9,900.00 | 1,815.00 | 1,980.00 | 1,980.00 | 5,775.00 | 4,125.00 | |||
2017 TOTAL ADDITIONS | 9,900.00 | 1,815.00 | 1,980.00 | 1,980.00 | 5,775.00 | 4,125.00 | ||||||
RETAIL FIXTURES |
10/12/2018 |
SL |
7 |
4,750.00 |
169.64 |
678.57 |
848.21 |
3,901.79 |
||||
FURNITURE | 10/12/2018 | SL | 7 | 3,900.00 | 139.29 | 557.14 | 696.43 | 3,203.57 | ||||
2018 TOTAL ADDITIONS | 8,650.00 | - | 308.93 | 1,235.71 | 1,544.64 | 7,105.36 | ||||||
TOTAL | 18,550.00 | 1,815.00 | 2,288.93 | 3,215.71 | 7,319.64 | 11,230.36 | ||||||
DELIVERY TRUCK |
6/1/2019 |
SL |
5 |
37,500.00 |
4,375.00 |
4,375.00 |
33,125.00 |
|||||
DESK AND CABINETRY | 6/1/2019 | SL | 7 | 11,900.00 | 991.67 | 991.67 | 10,908.33 | |||||
COMPUTER | 6/1/2019 | SL | 5 | 2,800.00 | 326.67 | 326.67 | 2,473.33 | |||||
2019 TOTAL ADDITIONS | 52,200.00 | - | - | 5,693.34 | 5,693.34 | 46,506.66 | ||||||
TOTAL | 70,750.00 | 1,815.00 | 2,288.93 | 8,909.05 | 13,012.98 | 57,737.02 |
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