Question
Below are four asset purchases made in 2018: Asset Cost Date of Purchase Office table $1,000 January 1, 2018 Office desk $1,500 September 29, 2018
- Below are four asset purchases made in 2018:
| Asset | Cost | Date of Purchase |
| Office table | $1,000 | January 1, 2018 |
| Office desk | $1,500 | September 29, 2018 |
| File cabinet | $2,000 | October 15, 2018 |
| Computer | $6,000 | December 30, 2018 |
- Assuming the company has net income of $5,000, what is the maximum Section 179 deduction for these purchases?
|
| $0 | |
|
| $10,500 | |
|
| $5,000 | |
|
| $2,500 |
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Understanding Financial Accounting A Guide For Non-specialists
Authors: Jimmy Winfield, Mark Graham, Taryn Miller
1st Edition
0198847270, 9780198847274
