Question
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Date Cost Asset Acquired
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:
| Date | Cost | ||
| Asset | Acquired | Basis | |
| Computers | 1/30 | $ | 35,500 |
| Office desks | 2/15 | $ | 39,500 |
| Machinery | 7/25 | $ | 82,500 |
| Office building | 8/13 | $ | 410,000 |
|
| |||
Assuming Anna does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions:
What is Annas year 1 cost recovery for each asset?
b. What is Annas year 2 cost recovery for each asset?
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
11th edition
978-0133851151, 013385115X, 978-0133866889
