Question
Date Placed Assets Acquired in Service Cost Building 6/1/1988 1,000,000 Brush Machine Bay #1 6/30/2012 90,000 Roller Machine Bay #1 6/30/2012 66,000 Cash Register 9/25/2010
| Date Placed | ||
| Assets Acquired | in Service | Cost |
| Building | 6/1/1988 | 1,000,000 |
| Brush Machine Bay #1 | 6/30/2012 | 90,000 |
| Roller Machine Bay #1 | 6/30/2012 | 66,000 |
| Cash Register | 9/25/2010 | 2,500 |
| Inside Counters | 7/31/2014 | 3,500 |
| Land | 6/1/1988 | 240,000 |
| Vacuums Bay #1 | 6/30/2012 | 30,000 |
| Drying Machines Bay #1 | 6/30/2012 | 96,000 |
| Water System Bay #1 | 6/30/2012 | 54,000 |
| Soap Machine Bay #1 | 6/30/2012 | 27,000 |
| Computer System | 9/15/2017 | 100,000 |
| New Brush Machine Bay #1 | 9/15/2017 | 135,000 |
| New Roller Machine Bay #1 | 9/15/2017 | 108,000 |
| New Vacuums Bay #1 | 9/15/2017 | 45,000 |
| New Drying Machines Bay #1 | 9/15/2017 | 138,000 |
| New Water System Bay #1 | 9/15/2017 | 93,000 |
| New Soap Machine Bay #1 | 9/15/2017 | 36,000 |
| Brush Machine Bay #3 | 9/15/2017 | 135,000 |
| Roller Machine Bay #3 | 9/15/2017 | 108,000 |
| Vacuums Bay #3 | 9/15/2017 | 45,000 |
| Drying Machines Bay #3 | 9/15/2017 | 138,000 |
| Water System Bay #3 | 9/15/2017 | 93,000 |
| Soap Machine Bay #3 | 9/15/2017 | 36,000 |
| Brush Machine Bay #4 | 12/15/2017 | 135,000 |
| Roller Machine Bay #4 | 12/15/2017 | 108,000 |
| Vacuums Bay #4 | 12/15/2017 | 45,000 |
| Drying Machines Bay #4 | 12/15/2017 | 138,000 |
| Water System Bay #4 | 12/15/2017 | 93,000 |
| Soap Machine Bay #4 | 12/15/2017 | 36,000 |
Based on above information calculate macrs deduction for assets placed in service before 2017 for year 2017 . Also calculate macrs deduction for assests placed in service in 2017 for year 2017 tax year.
DATE PLACED IN SERVICE DATE DISPOSED CASH PROCEEDS ITEM COST BRUSH MACHINE BAY #1 ROLLER MACHINE BAY #1 VACUUMS BAY #1 DRYING MACHINES BAY #1 WATER SYSTEM BAY #1 SOAP MACHINE BAY #1 6/30/2012 6/30/2012 6/30/2012 6/30/2012 6/30/2012 6/30/2012 90,000 66,000 30,000 96,000 54,000 27,000 11/1/2017 11/1/2017 11/1/2017 11/1/2017 11/1/2017 11/1/2017 3,000 2,500 1,000 4,000 5,200 3,200Step by Step Solution
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
