Required information Problem 10-47 (LO 10-2) (Algo) [The following information applies to the questions displayed below) DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Furniture Commercial building Date Acquired 2/20 4/24 10/18 Assuming DLW does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Asset oblem 10-47 Part b (Algo) What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 3/20 of year 3? Computer equipment Furniture Commercial building Total Cost Basis $ 19,200 $ 19,500 $ 350,000 Answer is not complete. Year 3 Cost Recovery $ $ $ 1,843 1,705 C 3,548

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Vishanu

Required information
Problem 10-47 (LO 10-2) (Algo)
[The following information applies to the questions displayed below]
DLW Corporation acquired and placed in service the following assets during the year:
Date Acquired
2/20
4/24
Cost Basis
$ 19,200
$ 19,500
10/18
$ 350,000
Asset
Computer equipment
Furniture
Commercial building
Assuming DLW does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions:
(Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.)
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
Problem 10-47 Part b (Algo)
b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 3/20 of year 3?
Asset
Answer is not complete.
Year 3
Cost
Recovery
Computer equipment
Furniture
Commercial building
Total
S
$
S
1,843
1,705
3,548
Transcribed Image Text:Required information Problem 10-47 (LO 10-2) (Algo) [The following information applies to the questions displayed below] DLW Corporation acquired and placed in service the following assets during the year: Date Acquired 2/20 4/24 Cost Basis $ 19,200 $ 19,500 10/18 $ 350,000 Asset Computer equipment Furniture Commercial building Assuming DLW does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 10-47 Part b (Algo) b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 3/20 of year 3? Asset Answer is not complete. Year 3 Cost Recovery Computer equipment Furniture Commercial building Total S $ S 1,843 1,705 3,548
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