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At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers Office desks
At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Asset Computers Office desks Machinery Office building Date Acquired 1/30 2/15 7/25 8/13 Cost Basis $ 61,000 $ 65,000 $ 108,000 $ 444,000 Assuming Anna does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Problem 10-48 Part a (Algo) a. What is Anna's year 1 cost recovery for each asset? Asset Year 1 Cost Recovery Computers Office desks Machinery Office building Total Problem 10-48 Part b (Algo) b. What is Anna's year 2 cost recovery for each asset? Asset Year 2 Cost Recovery Computers Office desks Machinery Office building Total $ 0
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