Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Find MACRS depreciation Himple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 IN SERVICE METHOD LIFE BASIS DEPR 12/15/2018 SL 5 9,900.00 165.00
Find MACRS depreciation
Himple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 IN SERVICE METHOD LIFE BASIS DEPR 12/15/2018 SL 5 9,900.00 165.00 9,900.00 165.00 2019 2020 ACCUM NET BOOK VALUE ASSET DEPR DEPR DEPR 1,980.00 1,980.00 4,125.00 5,775.00 CASH REGISTER 2018 TOTAL ADDITIONS 1,980.00 1,980.00 4,125.00 5,775.00 RETAIL FIXTURES SL 7 226.19 678.57 904.76 9/12/2019 9/12/2019 4,750.00 3,900.00 3,845.24 3,157.15 FURNITURE SL 7 185.71 557.14 742.85 8,650.00 411.90 1,235.71 1,647.61 7,002.39 2019 TOTAL ADDITIONS TOTAL 18,550.00 165.00 2,391.90 3,215.71 5,772.61 12,777.39 6/1/2020 SL 5 37,500.00 4,375.00 4,375.00 33,125.00 DELIVERY TRUCK DESK AND CABINETRY 6/1/2020 SL 7 11,900.00 991.67 991.67 10,908.33 COMPUTER 6/1/2020 SL 5 326.67 326.67 2,473.33 2,800.00 52,200.00 2020 TOTAL ADDITIONS 5,693.34 5,693.34 46,506.66 TOTAL 70,750.00 165.00 2,391.90 8,909.05 11,465.95 59,284.05 Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A 17 3,216 x 17 MACRS deductions for assets placed in service in tax years beginning before 2020.. 18 If you are electing to group any assets placed in service during the tax year into one or more general asset accounts, check hereStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started