Depreciation On March 20, 2019, Norton Systems acquired two new assets. Asset A was research equipment costing $22,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed cost of $59,000 and a 5-year recovery period. Using the MACRS depreciation percentages prepare a depreciation schedule for each of these assets. Complete the depreciation schedule for asset A below: Recovery Year Depreciation $ Data Table (Round to the nearest dollar.) Recovery Year Depreciation $ (Round to the nearest dollar.) (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Recovery Year Depreciation $ (Round to the nearest dollar.) Recovery Year Depreciation $ Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 7% (Round to the nearest dollar.) 10 years 10% 18% 14% Complete the depreciation schedule for asset B below: Recovery Year Depreciation $ OOOO AWN- (Round to the nearest dollar.) Recovery Year Depreciation $ 6% (Round to the nearest dollar.) 6% Recovery Year Depreciation $ (Round to the nearest dollar.) 4% Totals 100% 100% 100% 100% *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention. Recovery Year Depreciation $ (Round to the nearest dollar.) Recovery Year Depreciation $ (Round to the nearest dollar.) Print Done Recovery Year Depreciation $ (Round to the nearest dollar.) Depreciation On March 20, 2019, Norton Systems acquired two new assets. Asset A was research equipment costing $22,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed cost of $59,000 and a 5-year recovery period. Using the MACRS depreciation percentages prepare a depreciation schedule for each of these assets. Complete the depreciation schedule for asset A below: Recovery Year Depreciation $ Data Table (Round to the nearest dollar.) Recovery Year Depreciation $ (Round to the nearest dollar.) (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Recovery Year Depreciation $ (Round to the nearest dollar.) Recovery Year Depreciation $ Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes Percentage by recovery year* Recovery year 3 years 5 years 7 years 33% 20% 14% 45% 32% 25% 15% 19% 18% 7% (Round to the nearest dollar.) 10 years 10% 18% 14% Complete the depreciation schedule for asset B below: Recovery Year Depreciation $ OOOO AWN- (Round to the nearest dollar.) Recovery Year Depreciation $ 6% (Round to the nearest dollar.) 6% Recovery Year Depreciation $ (Round to the nearest dollar.) 4% Totals 100% 100% 100% 100% *These percentages have been rounded to the nearest whole percent to simplify calculations while retaining realism. To calculate the actual depreciation for tax purposes, be sure to apply the actual unrounded percentages or directly apply double-declining balance (200%) depreciation using the half-year convention. Recovery Year Depreciation $ (Round to the nearest dollar.) Recovery Year Depreciation $ (Round to the nearest dollar.) Print Done Recovery Year Depreciation $ (Round to the nearest dollar.)
