In 2012, you purchased a spindle machine (sevenyear MACRS property class) for $28,000, which you placed in
Question:
In 2012, you purchased a spindle machine (seven‐year MACRS property class) for $28,000, which you placed in service in January. Compute the depreciation allowances for the machine.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Given I 28000 and 7year MACRS property n ...View the full answer
Answered By
Sheikh Muhammad Ibrahim
During the course of my study, I have worked as a private tutor. I have taught Maths and Physics to O'Level and A'Level students, as well as I have also taught basic engineering courses to my juniors in the university. Engineering intrigues me alot because it a world full of ideas. I have passionately taught students and this made me learn alot. Teaching algebra and basic calculus, from the very basics of it made me very patient. Therefore, I know many tricks to make your work easier for you. I believe that every student has a potential to work himself. I am just here to polish your skills. I am a bright student in my university. My juniors are always happy from me because I help in their assignments and they are never late.
4.90+
14+ Reviews
24+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In 2010, you purchased a spindle machine (seven-year MACRS property) for $33,000, which you placed in service in January. Using the calendar year as your tax year, compute the depreciation allowances...
-
A company purchased a new forging machine to manufacture disks for airplane turbine engines. The new press cost $3,800,000, and it falls into the sevenyear MACRS property class. The company has to...
-
In 2012, three assets were purchased and placed in service by a firm: Compute the depreciation allowances for each asset. Date Placed in MACRS Asset Type Machine tools CNC machine Service Cost Base...
-
Write C++ statements to do the following. a. Declare int variables num1 and num2. b. Prompt the user to input two integers. c. Input the first number in num1 and the second number in num2. d. Output...
-
A golfer gives a ball a maximum initial speed of 51.4 m/s. (a) What is the longest possible hole-in-one for this golfer? Neglect any distance the ball might roll on the green and assume that the tee...
-
Is there any specific accounting regulations and requirements for SMEs in Oman?
-
Discuss socialization., p. 443
-
Stately Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments: a. Stately Corporation pays for 55% of its direct materials...
-
The ending balance of the Accounts Receivable account was $12,000 and the beginning balance was $14,000. Collections from customers were $22,000. What was the amount of services billed to customers?...
-
According to data from the National Health and Nutrition Examination Survey, 33% of white, 49.6% of black, 43% of Hispanic, and 8.9% of Asian women are obese. In a representative town, 48% of women...
-
On October 3, Kim Bailey paid $250,000 for a residential rental property. This purchase price represents $200,000 for the building and $50,000 for the land. Five years later, on June 25, she sold the...
-
A hot-and-cold forming machine was purchased at a cost of $65,000. It has an estimated useful life of six years with salvage value of $8,000. It was placed in service on March 1 of the current fiscal...
-
EX 1.11 What is the total number of communication lines needed for a fully connected point-to-point network of eight computers? Nine computers? Ten computers? What is a general formula for...
-
The employee.class.php file contains an abstract, base class named Employee . One of the attributes of the class is an object of Person . This demonstrates one of the three relationship types among...
-
A direct shear test is performed on a saturated specimen of loose sand. A normal stress equal to 100 kPa is applied and a maximum shear stress of 75 kPa is measured in the shear test. Determine the...
-
How does budgeting help managers? Budgeting helps managers determine if their goals are ethical and achievable. Budgeting helps managers determine if their goals are reasonable and achievable....
-
If the 230-lb block is released from rest when the spring is unstretched, determine the velocity of the block after it has descended 5ft . The drum has a weight of 70lb and a radius of gyration of...
-
A B C D E F 1 Frequency : Monthly 2 Loan Amount: 150000.00 3 Interest Rate: 7.25% 4 Term(years): 30.00 5 No. of payments in a year: 12 time(s) 6 Periodic Rate: 0.60% =C3/C5 7 Total number of payment:...
-
Solve each equation for 0 < < 360. a. 2 tan 2 1 = sec b. 3 cosec 2 = 13 cot c. 2 cot 2 cosec = 13 d. cosec + cot = 2 sin e. tan 2 + 3sec = 0 f. 3 sec 2 = cosec
-
Identify one local business that uses a perpetual inventory system and another that uses a periodic system. Interview an individual in each organization who is familiar with the inventory system and...
-
What strategy decisions are needed in the personal selling area? Why should the marketing manager make these strategy decisions?
-
What kind of salesperson (or what blend of the basic sales tasks) is required to sell the following products? If there are several selling jobs in the channel for each product, indicate the kinds of...
-
Discuss the role of the manufacturers agent in a marketing managers promotion plans. What kind of salesperson is a manufacturers agent? What type of compensation plan is used for a manufacturers...
-
The following amounts were reported on the December 31, 2022, balance sheet: Cash $ 8,000 Land 20,000 Accounts payable 15,000 Bonds payable 120,000 Merchandise inventory 30,000 Retained earnings...
-
Sandhill Co. issued $ 600,000, 10-year, 8% bonds at 105. 1.Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when the...
-
Based on the regression output (below), would you purchase this actively managed fund with a fee of 45bps ? Answer yes or no and one sentence to explain why.
Study smarter with the SolutionInn App