Required information [The following information applies to the questions displayed below.] At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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. b. What is Anna's year 2 cost recovery for each asset? Computers Office desks Machinery Office building Total Date Acquired 1/30 2/15 7/25 8/13 $ Year 2 Cost Recovery Cost Basis $ 52,000 $ 56,000 $ 99,000 $ 432,000 0
Required information [The following information applies to the questions displayed below.] At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Computers Office desks Machinery Office building Asset Asset Assuming Anna 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. b. What is Anna's year 2 cost recovery for each asset? Computers Office desks Machinery Office building Total Date Acquired 1/30 2/15 7/25 8/13 $ Year 2 Cost Recovery Cost Basis $ 52,000 $ 56,000 $ 99,000 $ 432,000 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Denger
![Required information
[The following information applies to the questions displayed below.]
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Computers
Office desks
Machinery
Office building
Asset
Asset
Assuming Anna 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.
b. What is Anna's year 2 cost recovery for each asset?
Computers
Office desks
Machinery
Office building
Total
Date Acquired
1/30
2/15
7/25
8/13
Year 2
Cost Recovery
$
Cost Basis
$ 52,000
$ 56,000
$ 99,000
$ 432,000
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F59c304f7-8989-487c-be36-568c211f7a90%2Fe8ff7ddb-d87c-426f-b55d-6a3d2ba218ad%2Fpsapag_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
year:
Computers
Office desks
Machinery
Office building
Asset
Asset
Assuming Anna 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.
b. What is Anna's year 2 cost recovery for each asset?
Computers
Office desks
Machinery
Office building
Total
Date Acquired
1/30
2/15
7/25
8/13
Year 2
Cost Recovery
$
Cost Basis
$ 52,000
$ 56,000
$ 99,000
$ 432,000
0
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