Question
Back in Boston, Steve has been busy creating and managing his new company, Teton Mountaineering (TM), which is based out of a small town in
Back in Boston, Steve has been busy creating and managing his new company, Teton Mountaineering (TM), which is based out of a small town in Wyoming. In the process of doing so, TM has acquired various types of assets. Below is a list of assets acquired during 2013:
| Asset | Cost | Date Placed in Service | |
| Office furniture | $ | 10,000 | 02/03/2013 |
| Machinery | 560,000 | 07/22/2013 | |
| Used delivery truck* | 15,000 | 08/17/2013 | |
| * Not considered a luxury automobile, thus not subject to the luxury automobile limitations. |
| During 2013, TM had huge success (and had no |
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Accounts And Audit Of Limited Liability Partnerships
Authors: Steve Collings
4th Edition
1847669913, 978-1847669919
