Question
Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore §179 expense and bonus...
Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore §179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and Table 2.) Date Placed Original Asset in Service Basis
Machinery October 25 $ 106,000
Computer equipment February 3 $ 37,000
Used delivery truck* August 17 $50,000
Furniture April 22 $195,000
*The delivery truck is not a luxury automobile.
Problem 10-53 Part b. What is the allowable MACRS depreciation on Evergreen’s property in the current year if Evergreen does not elect out of bonus depreciation?
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Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore §179 expense and bonus...
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Date Placed
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October 25
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Computer equipment
February 3
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Original
Asset
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Date
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21-Oct
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29-Jan
17,100
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26,000
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218,000
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$
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Required information
Problem 10-54 (LO 10-2; LO 10-3)
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 2and
Table 5.)
Date
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Basis
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Used delivery truck*
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Furniture
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$
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In addition...
Way Corporation disposed of the following tangible personal property assets in the current year. Date Date...
Way Corporation
disposed of the following tangible personal property assets in the
current year.
Date
Date
Original
Asset
Acquired
Sold
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Basis
Furniture (7-year)
5/12/15
7/15/19
HY
$
115,000
Machinery (7-year)
3/23/16
3/15/19
MQ
132,000
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3/13/19
HY
68,000
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8/11/19
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332,400
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10/11/19
12/15/19
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128,000
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Date sold
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