Question
DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/1 $18,300 Furniture 1/16 18,800
DLW Corporation acquired and placed in service the following assets during the year:
| Asset | Date Acquired | Cost Basis |
|---|---|---|
| Computer equipment | 3/1 | $18,300 |
| Furniture | 1/16 | 18,800 |
| Commercial building | 8/26 | 323,000 |
Assuming DLW does not elect S179 expensing or bonus depreciation, answer the following question:
1. What is DLW's year 3 cost recovery for each asset if DLW sells all of these assets on 2/22 of year 3?
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Cima Official Exam Practice Kit Fundamentals Of Ethics Corporate Governance And Business Law Certificate In Business Accounting
Authors: Larry Mead
4th Edition
1856177092, 978-1856177092
