For the MACRS method of depreciation, identify (a) the six standardized recovery periods for personal property, (b) the two recovery periods for real property, (c) the assumed salvage value for personal property, and (d ) the default recovery period for an asset not in a stated GDS class.

Q: You have started a business and purchased a new truck (asset class 00.22). The cost basis for…

A: Hi student, thanks for posting the question. As per the guideline, we are providing answer for the…

Q: A piece of equipment has a first cost of $399,000.  Annual operating and maintenance cost are…

A: Given Information Original Cost of equivalent = $399,000and operations and maintainace cost =…

Q: A manufacturer of aerospace products purchased three flexible assembly cells for $500,000 each.…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

Q: A tax- and duty-free importation of a 30hp sand mill (for paint manufacturing) cost 360,000. CIP…

A: In the question above, it is given that :  Manufacturing Cost = 360,000 Bank charges and brokerage…

Q: Lynn Construction Company had a gross income of $34,000,000 in tax-year 1,$5,000,000 in salaries,…

A:

Q: ABC Company makes its policy that for every new piece of equipment purchased, the annual…

A: Below is the given value: The annual depreciation should not be more than = 25% Salvage value = 0

Q: Under the General Depreciation System (GDS) of asset classification, any asset that is not in a…

A: Depreciation is used to show the fall in the value of assets over time. There are many ways to…

Q: ABC Corporation makes it a policy that for any new equipment purchased, the annual depreciation cost…

A: Under the SYD strategy, the depreciation rate percentage for every year is determined as the…

Q: A telephone company purchased a microwave radio equipment for P6,000,000. Freight and installation…

A: Here we calculate the depreciation on the equipment with 2 method by using the given information so…

Q: ABC Corporation makes its policy that for every new equipment purchased, the annual depreciation…

A: Given data:The annual depreciation should not be more than = 20%salvage value = 0

Q: A machine costing P480,000 has a life expectancy of 15 years with a salvage value of 10% of the…

A: Machine initial cost=P480000 Life expectancy=15 years Salvage value= 10% of initial  cost

Q: A printing equipment costs P 74,506 has a life expectancy of 9 years and has a salvage value of P…

A: Depreciation is the amount of value reduces of the equipment per year and it can be used with many…

Q: An asset is purchased for 9,000. It estimated economic life is for 10 years after which it will be…

A: Cost=9000 Scrap value=1000

Q: Software and hardware for optimizing cell design of robotic picking lines have an installed cost of…

A: Initial cost = $ 78000 N = 5 year Value after 5 year, Salvage value = $0 DDB method Formula for…

Q: A touch-sensitive assembly robot that costs $300,000 had a depreciable life of 5 years with an…

A: The cost of the touch-sensitive assembly robot is given to be $300,000 in the economy. The…

Q: Earthmoving equipment with a first cost of $150,000 is expected to have a life of 10 years. The…

A: (a) Salvage value = 0.01 * initial value                        = 0.01 * 150000…

Q: A linking machine is purchased for ₱20,000. It is estimated to have a useful life of 10 years and a…

A: Sum of Years Depreciation (SYD) is a technique for speeding up depreciation. Like the twofold…

Q: Required information Determine the amount of any depreciation recapture (DR), capital gain (CG), or…

A: The depreciation method utilized in the United States for tax reasons is known as the MACRS, or…

Q: What is the book value of washing machine purchased 3 yr ago for ₱15,000 if it is depreciated using…

A: Life = 5 years   Book value = 15,000

Q: All of the following assets can be depreciated, except: (a) A bulldozer (b) A copper mine (c) A…

A: Depreciation is used to show the fall in the value of assets over time.

Q: what is the Book Value at the end of year 2?

A: Depreciation = (B-S)/n initial cost(B) = $50,000 Salvage value(S) = $10,000 n = 5 years,…

Q: A machine cost Php 1,800,000. It has a salvage value of Php 300,000 at the end of 5 years. If money…

A: Machine cost = 1,800,000 Salvage Value = 300,000 Useful life = 5 Years

Q: Concepcion Industries paid $308,000 in federal taxes last year. If business expenses and…

A: Since January 1, 2018, the federal corporate tax rate in the USA is a flat 21% due to the passage of…

Q: for P10,000 and plans to keep it for 20 years. If the salvage value is zero at the end of the 20th…

A: *Answer: