Question

At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff’s Palace. Poplock bought and placed in service the following assets during the year:

Asset                                 Date Acquired   Cost Basis

Computer equipment      3/23                     $5,000

Dog grooming furniture 5/12                          $7,000

Pickup truck                      9/17                     $10,000

Commercial building       10/11                    $260,000

Land (one acre)                10/11                    $80,000

Assuming Poplock does not elect §179 expensing or bonus depreciation, what is Poplock’s year 1 depreciation expense for each asset?

Answer 1

POPLOCKS
DEPRECIATION DURING THE ONE YEAR
Year	Name of	ASSET	Remaining	Adjusted Basis	Depreciation	Accumulated	Method
	the Assest	DATE	Recovery		Expense	Depreciation
2018	computer equipment	23-Mar	5	2,500.00	500	500	200% DB
2018	Dog grooming furniture	05-Dec	5	3,500.00	700	700	200% DB
2018	Pickup truck	09-Jul	5	5,000.00	1,000.00	1,000.00	200% DB
2018	Commerical Building	10-Nov	5	1,30,000.00	26,000.00	26,000.00	200% DB
2018	Land One Acre	10-Nov
This Depreciation Calculated in MACRS DEPRECIATION METHOD FOLLOWED
NOTE - LAND ONE ACRE IT IS A OWN ASSET BUT NOT PROVIDED DEPRECATION