Evergreen Corporation (calendar
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2.)
Asset
Date Placed in
Service
October 25
February 3
August 17
April 22
Machinery
Computer equipment
Used delivery truck*
Furniture
*The delivery truck is not a luxury automobile.
Depreciation
Original
Basis
$ 96,000
29,500
42,500
182,500
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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa2530009-7eab-4128-b39d-7ebd062855cb%2Fc595ad32-fa28-4fe4-afac-5a952ae17f1d%2Fxwthpgm_processed.png&w=3840&q=75)
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Required information
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and
Table 2.)
Asset
Date Placed in
Service
October 25
February 3
August 17
April 22
Machinery
Computer equipment
Used delivery truck*
Furniture
*The delivery truck is not a luxury automobile.
Depreciation
Original
Basis
$ 96,000
29,500
42,500
182,500
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?
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