Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Machinery Computer equipment Used delivery truck Furniture. *The delivery truck is not a luxury automobile. Problem 10-53 Part b (Algo) Date Placed in Service October 25 February 3 August 17 April 22 Depreciation b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of §179 expense? Answer is complete but not entirely correct. $ 52,702 X Original Basis $ 96,000 29,500 42,500 182,500
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Machinery Computer equipment Used delivery truck Furniture. *The delivery truck is not a luxury automobile. Problem 10-53 Part b (Algo) Date Placed in Service October 25 February 3 August 17 April 22 Depreciation b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of §179 expense? Answer is complete but not entirely correct. $ 52,702 X Original Basis $ 96,000 29,500 42,500 182,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.)
Asset
Machinery
Computer equipment
Used delivery truck*
Furniture
*The delivery truck is not a luxury automobile.
Problem 10-53 Part b (Algo)
Date Placed in Service
October 25
February 3
August 17
April 22
Depreciation
b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation and elects out of §179 expense?
X Answer is complete but not entirely correct.
$ 52,702 X
Original Basis
$ 96,000
29,500
42,500
182,500
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