Question
1. Brittany purchased a building for $300,000 on January 1, 2011. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8) Required:
1.
Brittany purchased a building for $300,000 on January 1, 2011. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8)
Required:
Calculate the cost recovery for 2011 and 2019 if the real property is: (Round your final answers to the nearest whole dollar amount.)
- Residential real property.
- A warehouse
a. 2011 cost recovery
2019 Cost Recovery
b. 2011 Cost Recovery
2019 Cost Recovery
2.
Brittany purchased a building for $300,000 on January 1, 2011. The purchase price does not include land. (Use Table 6A-6 and Table 6A-8)
Required:
Calculate the cost recovery for 2011 and 2019 if the real property is: (Round your final answers to the nearest whole dollar amount.)
- Residential real property.
- A warehouse.
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Canadian Edition
0470836792, 978-0470836798
