purchased a
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
a. The vehicle cost $33,600, and business use is 100 percent (ignore§179expense).
b. The vehicle cost $88,000, and business use is 100 percent.
c. The vehicle cost $88,000, and she used it 80 percent for business.
Answer all three subparts..
Please don't give answer & formulae in image based format.. thanku
![Require formation
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
§179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus
depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS
Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part a (Algo)
a. The vehicle cost $33,600, and business use is 100 percent (ignore §179 expense).
Year
2022
2023
Depreciation
deduction](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1c508836-070b-4def-9315-d36b04e0697d%2F13f18922-d1de-4a53-8a17-ff78518e82c4%2Fm9l5exu_processed.png&w=3840&q=75)
Transcribed Image Text:Require formation
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
§179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus
depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS
Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part a (Algo)
a. The vehicle cost $33,600, and business use is 100 percent (ignore §179 expense).
Year
2022
2023
Depreciation
deduction
![Required information
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
§179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus
depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS
Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part b (Algo)
b. The vehicle cost $88,000, and business use is 100 percent.
Year
2022
2023
Depreciation
deduction](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1c508836-070b-4def-9315-d36b04e0697d%2F13f18922-d1de-4a53-8a17-ff78518e82c4%2Fdtke0uq_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
§179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus
depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS
Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part b (Algo)
b. The vehicle cost $88,000, and business use is 100 percent.
Year
2022
2023
Depreciation
deduction
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