In 2012, you purchased a spindle machine (seven-year MACRS property class)for $28,000, which you placed in service in January. Compute the depreciationallowances for the machine.
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In 2012, you purchased a spindle machine (seven-year MACRS property class)
for $28,000, which you placed in service in January. Compute the
allowances for the machine.
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- Suds-n-Dogs just purchased new automated bun-handling equipment for $12,000. The salvage value of the equipment is anticipated to be $1200 at the end of its 5-year life. Use MACRS to determine the depreciation schedule using a three-year property class.A high-precision programmable router for shaping furniture components is purchased by Henredon for $190,000. It is expected to last 12 years. Calculate the depreciation deduction and book value for each year using MACRS-GDS allowances. a. What is the MACRS-GDS property class? b. Assume the complete allowable depreciation schedule is used. c. Assume the asset is sold during the 5th year of use.I need help with this solution
- A barn that cost $46,000 to construct is placed in service midyear as a 20-year property. What is the MACRS depreciation for year 16? Click the icon to view a table of MACRS rates. The year 16 depreciation is $ (Round to the nearest cent as needed.)Your company just purchased new device for food and beverage manufacture for $12,000. The salvage value of the equipment is anticipated to be $1200 at the end of its depreciable life. Use MACRS to determine the depreciation schedule.A digitally controlled plane for manufacturing furniture is purchased on April 1 by a calendar-year taxpayer for $66,000. It is expected to last 12 years and have a salvage value of $5,000. Calculate the depreciation deduction during years 1, 4, and 8. a. Use straight-line depreciation. b. Use declining balance depreciation, with a rate that ensures the book value equals the salvage value c. Use double declining balance depreciation. d. Use declining balance depreciation, switching to straight-line depreciation.
- A surface mount PCB placement/soldering line is to be installed for $1,000,000. It will have a salvage value of $90,000 after 5 years. Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life. Click here to access the MACRS-GDS Table Calculator Part a Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life using declining balance depreciation using double declining balance switching to straight line depreciation. EOY Depreciation Balance 1 3 4 Sum depreciation Round entry to two decimal places. The tolerance is ±10.A surface mount PCB placement/soldering line is to be installed for $1,400,000. It will have a salvage value of $70,000 after 5 years. Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life. Click here to access the MACRS-GDS Table Calculator Part a Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life using declining balance depreciation using double declining balance switching to straight line depreciation. ΕΟΥ 0 1 2 3 4 5 Sum depreciation Depreciation BalanceYou have just bought a new pusher dozer for your equipment fleet. Its cost is $100,000. It has salvage value of $12,000 at the end of its service life. a) Calculate the depreciation using the straight-line method. Show the table with the book value and the depreciation for each year. b) Calculate the depreciation using the DDB method. Show the table with the book value and the depreciation for each year. c) The new pusher dozers $35,000/year for your company during its service life. Determine the tax amount owed at the end of each year if your marginal tax rate is 25% for the income made using this new equipment. Perform this tax calculation separately, once using straight-line depreciation and then using DDB depreciation. d) Based on your calculations for part (c), which depreciation method would you use to file the taxes.
- Katie, your Accounting Manager, has asked you to calculate the depreciation for the new company car. The company purchased the new car on May 1, 2018. The purchase price was $22,600 and had a useful life of 3 years. The salvage or residual amount is 5% of the purchase price. Round to the nearest whole dollar. Calculate the total depreciation expense in 2018, 2019, 2020, and 2021 using the straight-line method.In early 2014, Sosa Enterprises purchased a new machine for $10,000 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $2,000. Develop a depreciation schedule for this asset using the MACRS depreciation percentages in Table 4.2.A portable concrete test instrument used in construction for evaluating and profiling concrete surfaces (MACRS-GDS 5-year property class) is purchased in December by a calendar-year taxpayer for $22,000. The instrument will be used for 6 years and be worth $2,000 at that time. a. Calculate the depreciation deduction for years 1, 3, and 6. b. If the instrument is sold in year 4, determine the depreciation deduction for years 1, 3, and 4.