Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Chapter 17, Problem 5RQ
Summary Introduction
To explain: The tasks required to complete the systems survey.
Introduction:
Acquiring and implementing
It describes the acquisition of a system and its phases of development and the steps involved in it. It explains the difference between purchased and in-built systems. It explains the importance of the presence of an accountant in these systems.
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Assume that Timberline Corporation has 2024 taxable income of $240,000 for purposes of computing the §179 expense. It acquired the following assets in 2024: (Use MACRS Table 1, Table 2, Table 3, Table 4, and Table 5.)
Asset
Purchase Date
Basis
Furniture (7-year)
December 1
$ 550,000
Computer equipment (5-year)
February 28
90,000
Copier (5-year)
July 15
30,000
Machinery (7-year)
May 22
580,000
Total
$ 1,250,000
b. What would Timberline's maximum depreciation deduction be for 2024 assuming no bonus depreciation?
Convers Corporation (calendar-year-end) acquired the following assets during the current tax year: (ignore §179 expense and bonus depreciation for this problem): (Use MACRS Table 1, Table 2, and Table 5.)
Asset
Date Placed in Service
Original Basis
Machinery
October 25
$ 70,000
Computer equipment
February 3
10,000
Delivery truck*Footnote asterisk
March 17
23,000
Furniture
April 22
150,000
Total
$ 253,000
*Footnote asteriskThe delivery truck is not a luxury automobile.
In addition to these assets, Convers installed qualified real property (MACRS, 15 year, 150% DB) on May 12 at a cost of $300,000.
a. What is the allowable MACRS depreciation on Convers's property in the current year assuming Convers does not elect §179 expense and elects out of bonus depreciation?
Chapter 17 Solutions
Accounting Information Systems
Ch. 17 - What is systems development?Ch. 17 - What is the systems development life cycle (SDLC)?Ch. 17 - Prob. 3RQCh. 17 - What are the systems development objectives?Ch. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - Prob. 7RQCh. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - What is the purpose of conducting an effectiveness...
Ch. 17 - Prob. 11RQCh. 17 - What is systems selection?Ch. 17 - Prob. 13RQCh. 17 - Prob. 14RQCh. 17 - Prob. 15RQCh. 17 - Prob. 16RQCh. 17 - Why might a company issue an RFP for general...Ch. 17 - What is the difference between a specification and...Ch. 17 - Prob. 19RQCh. 17 - Prob. 20RQCh. 17 - Prob. 21RQCh. 17 - Prob. 22RQCh. 17 - What is the riskiest approach to systems...Ch. 17 - What two variables should be considered when...Ch. 17 - Prob. 25RQCh. 17 - Prob. 26RQCh. 17 - Prob. 27RQCh. 17 - Prob. 28RQCh. 17 - Prob. 29RQCh. 17 - Identify and discuss several factors affecting the...Ch. 17 - Prob. 2DQCh. 17 - Prob. 3DQCh. 17 - Prob. 4DQCh. 17 - Prob. 5DQCh. 17 - Prob. 6DQCh. 17 - Prob. 7DQCh. 17 - Prob. 8DQCh. 17 - Prob. 9DQCh. 17 - Prob. 10DQCh. 17 - Prob. 11DQCh. 17 - Prob. 12DQCh. 17 - Prob. 13DQCh. 17 - Prob. 14DQCh. 17 - Prob. 15DQCh. 17 - Prob. 16DQCh. 17 - Refer to the typical contents of a project...Ch. 17 - Prob. 18DQCh. 17 - Prob. 19DQCh. 17 - Search the Internet for an ERP failure that...Ch. 17 - Prob. 3SPCh. 17 - Prob. 4SPCh. 17 - Prob. 1PCh. 17 - Prob. 2PCh. 17 - TM Office Supplies, Inc., is a wholesale...Ch. 17 - Prob. 6PCh. 17 - Prob. 9P
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