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    "meta_title": "[Solved] I need help with this accounting question | SolutionInn",
    "meta_description": "Answer of - I need help with this accounting question, Thank you Required information [T he following information applies to the q | SolutionInn",
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    "question_title_h1": "I need help with this accounting question, Thank you Required information [T he following information applies to the questions displayed below] At the beginning of",
    "question_title": "I need help with this accounting question, Thank you Required information [T",
    "question_title_for_js_snippet": "I need help with this accounting question, Thank you Required information  T he following information applies to the questions displayed below  At the beginning of the current year  Poplock began a calendar year dog boarding business called Griff's Palace  Poplock bought and placed in service the following assets during the year  Date Coat  Asset Acquired Basis Computer equipment 3 I 23 S a , 800 Dog grooming furniture 5 12 10 , 300 Pickup truck 9 17 10,000 Commercial building 10 11 308,000 Land (one acre) 10 11 118,000 ' Assuming Poplock does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions  (Use MACRS Table 1  Table 2  Table 3  Table 4 and Table 5 ) (Do not round intermediate calculations  Round your nal answers to the nearest whole dollar amount  Leave no answer blank  Enter zero if applicable ) b  What is Poplock's year 2 depreciation deduction for each asset  Computer equipment Dog grooming furniture Land Total Pickup truck Commercial building Table 1 MACRS Half Year Convention Depreciation Rate for Recovery Period 3 Year 5 Year 7 Year 10 Year 15 Year 20 Year Year 1 33 33  20 00  14 29  10 00  5 00  3 750  Year 2 44 45 32 00 24 49 18 00 9 50 7 219 Year 3 14 81 19 20 17 49 14 40 8 55 6 677 Year 4 7 41 11 52 12 49 11 52 7 70 6 177 Year 5 11 52 8 93 9 22 6 93 5 713 Year 6 5 76 8 92 7 37 6 23 5 285 Year 7 8 93 6 55 5 90 4 888 Year 8 4 46 6 55 5 90 4 522 Year 9 6 56 5 91 4 462 Year 10 6 55 5 90 4 461 Year 11 3 28 5 91 4 462 Year 12 5 90 4 461 Year 13 5 91 4 462 Year 14 5 90 4 461 Year 15 5 91 4 462 Year 16 2 95 4 461 Year 17 4 462 Year 18 4 461 Year 19 4 462 Year 20 4 461 Year 21 2 231TABLE 2a MACRS Mid Quarter Convention  For property placed in service during the first quarter Depreciation Rate for Recovery Period 5 Year 7 Year Year 35 00  25 00  Year 2 26 00 21 43 Year 3 15 60 15 31 Year 4 11 01 10 93 Year 5 11 01 8 75 Year 6  38 8 74 Year 7 8 75 Year 8 1 09 TABLE 2b MACRS Mid Quarter Convention  For property placed in service during the second quarter Depreciation Rate for Recovery Period 5 Year 7 Year Year 1 25 00  17 85  Year 2 30 00 23 47 Year 18 00 16 76 Year 4 11 37 11 97 Year 5 11 37 8 87 Year 6 1 26 3 87 Year 7 8 87 Year 8 3 34 TABLE 2c MACRS Mid Quarter Convention  For property placed in service during the third quarter Depreciation Rate for Recovery Period 5 Year 7 Year Year 1 15 00  10 71  Year 2 34 00 25 51 Year 3 20 40 18 22 Year 4 12 24 13 02 Year 5 11 30  30 Year 6 7 06  85 Year 7 8 86 Year 8 5 53 TABLE 2d MACRS Mid Quarter Convention  For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5 Year 7 Year Year 1 5 00  3 57  Year 2 38 00 27 55 Year 3 22 80 19 68 Year 4 3 68 14 06 Year 5 10 94 10 04 Year 6 9 58 8 73 Year 7 8 73TABLE 3 Residential Rental Property Mid Month Convention Straight Line 27 5 Years Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month Month Month 10 11 12 Year 1 3 485  3 182  2 879  2 5769  2 273  1 970   667  1 364  1 061  0 758  0 455  0 152  Year 2 9 3 63 3 636 3 636 3 636 3 636 3 636 3 636 3 636 3 636 3 636 3 63 3 636 Year 10 3 637 3 637 3 637 3 637 3 637 3 637 3 636 3 636 3 636 3 636 3 636 3 636 Year 11 3 636 3 636 3 636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 3 637 Year 12 3 637 3 637 3 637 3 637 3 637 3 637 3 636 3 636 3 636 3 636 3 636 3 636 Year 13 3 636 3 636 3 63 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 Year 14 3 637 3 637 3 637 3 637 3 63 3 637 3 636 3 636 3 636 3 63 3 636 Year 15 3 63 3 636 3 636 3 636 3 636 3 63 3 637 3 637 3 637 3 637 3 63 3 637 Year 16 3 63 3 637 3 637 3 637 3 637 3 63 3 636 3 636 3 636 3 636 3 636 Year 17 3 636 3 636 3 63 3 636 3 636 3 63 3 637 3 637 3 637 3 637 3 63' 3 637 Year 18 3 637 3 637 3 637 3 637 3 637 3 637 3 636 3 636 3 636 3 636 3 636 Year 19 3 636 3 636 3 636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 3 637 Year 20 3 637 3 637 3 637 3 637 3 637 3 637 3 636  636 3 636 3 636 3 636 3 636 Year 3 636 3 636 3 636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 3 637 Year 22 3 637 3 637 3 637 3 637 3 637 3 63 3 636 3 636 3 636 3 636 3 636 3 636 Year 23 3 636 3 636 3 636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 3 637 Year 24 3 637 3 637 3 637 3 637 3 637 3 637 3 636 3 636 3 636 3 636 3 636 3 636 25 3 636  636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 637 3 637 Year 26 3 637 3 637 3 637 3 637 3 637 3 636 3 636 3 636 3 636 3 636 Year 27 3 636 3 636 3 636 3 636 3 636 3 637 3 637 3 637 3 637 3 63' 3 637 Year 28 1 97 2 27 2 576 2 879 3 182 3 48 3 636 3 636 3 636 3 63 3 636 Year 29 0 152 0 455 0 758 1 061 1 364 1 667TABLE 4 Nonresidential Real Property Mid Month Convention Straight Line 31 5 Years (for assets placed in service before May 13, 1993) Month Property Placed in Service Month 2 Month 3 Month 4 Month 5 Month 6 Month 8 Month 9 Month 10 Month 11 Month 12 Year 3 042  2 778  2 513  2 249  1 984  1 455  1 190  0 926  0 661  0 397  0 132  3 17 3 175 3 175 3 175 3 175 3 175 Year 8 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 175 3 175 3 175 3 175 Year 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 Year 10 3 175 3 174 3 175 3 175 3 174 3 174 3 174 3 174 3 175 3 174 3 175 3 174 3 17 3 174 3 174 3 175 3 174 3 175 Year 12 3 175 3 174 3 175 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 Year 13 3 174 3 174 3 174 3 174 3 175 3 175 3 175 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 175 3 174 3 175 3 174 Year 15 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 175 3 174 3 175 Year 16 3 175 3 174 3 175 3 175 3 174 3 174 3 174 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 174 3 175 3 174 3 175 Year 18 3 175 3 174 3 175 3 175 3 174 3 175 3 174 3 175 3 175 3 174 Year 19 3 174 3 174 3 174 3 174 3 175 3 175 3 175 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 Year 21 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 Year 22 3 175 3 174 3 175 3 175 3 174 3 175 3 174 3 174 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 115 3 174 3 175 3 174 3 175 Year 24 3 175 3 174 3 175 3 175 3 174 3 175 3 174 3 175 3 175 3 174 Year 25 3 174 3 175 3 174 3 174 3 174 3 175 3 175 3 175 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 Year 27 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 175 3 174 3 175 Year 28 3 175 3 174 3 175 3 175 3 175 3 174 3 174 3 174 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 174 3 175 3 174 3 175 Year 30 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 174 3 175 3 175 3 174 Year 31 3 174 3 174 3 174 3 175 3 175 3 174 3 175 1 720 1 984 2 513 2 778 3 042 3 175 3 174 3 175 3 174 3 175 3 174 Year 33 0 132 0 397 1 455TABLE 5 Nonresidential Real Property Mid Month Convention Straight Line 39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 1 2 461  2 247  2 033  1 819  1 605  1 391  1 177  0 963  0 749  0 535  0 321  0 107  Year 2 39 2 564 2 564 2 564 2 564 2 564 2 564 2 564 2 564 2 564 2 564 2 564 2 564 Year 40 0 107 0 321 0 535 0 749 0 963 1 177 1 391 1 605 1 819 2 033 2 247 2 461",
    "question_description": "<p>I need help with this accounting question, Thank you <\/p><div><div><div><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e77398a4db_089667e773971247.jpg\" alt=\"image text in transcribed\"><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e7739e98d5_089667e7739bced5.jpg\" alt=\"image text in transcribed\"><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e773a40e3f_090667e773a1f223.jpg\" alt=\"image text in transcribed\"><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e773aaffc7_090667e773a88b35.jpg\" alt=\"image text in transcribed\"><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e773b25d70_091667e773b0b5aa.jpg\" alt=\"image text in transcribed\"><img src=\"https:\/\/s3.amazonaws.com\/si.experts.images\/answers\/2024\/06\/667e773b8b5fc_091667e773b75177.jpg\" alt=\"image text in transcribed\"><\/div><\/div><\/div> Required information [T he following information applies to the questions displayed below] At the beginning of the current year. Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Date Coat: Asset Acquired Basis Computer equipment 3 I 23 S a , 800 Dog-grooming furniture 5\/12 10 , 300 Pickup truck 9\/17 10,000 Commercial building 10\/11 308,000 Land (one acre) 10\/11 118,000 ' Assuming Poplock does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your nal answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) b. What is Poplock's year 2 depreciation deduction for each asset? Computer equipment Dog grooming furniture Land Total Pickup truck Commercial building Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year Year 1 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% Year 2 44.45 32.00 24.49 18.00 9.50 7.219 Year 3 14.81 19.20 17.49 14.40 8.55 6.677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 7.37 6.23 5.285 Year 7 8.93 6.55 5.90 4.888 Year 8 4.46 6.55 5.90 4.522 Year 9 6.56 5.91 4.462 Year 10 6.55 5.90 4.461 Year 11 3.28 5.91 4.462 Year 12 5.90 4.461 Year 13 5.91 4.462 Year 14 5.90 4.461 Year 15 5.91 4.462 Year 16 2.95 4.461 Year 17 4.462 Year 18 4.461 Year 19 4.462 Year 20 4.461 Year 21 2.231TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 .38 8.74 Year 7 8.75 Year 8 1.09 TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23.47 Year 18.00 16.76 Year 4 11.37 11.97 Year 5 11.37 8.87 Year 6 1.26 3.87 Year 7 8.87 Year 8 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.24 13.02 Year 5 11.30 .30 Year 6 7.06 .85 Year 7 8.86 Year 8 5.53 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.55 Year 3 22.80 19.68 Year 4 3.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month Month Month 10 11 12 Year 1 3.485% 3.182% 2.879% 2.5769% 2.273% 1.970% .667% 1.364% 1.061% 0.758% 0.455% 0.152% Year 2-9 3.63 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.63 3.636 Year 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 Year 11 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 12 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 Year 13 3.636 3.636 3.63 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 Year 14 3.637 3.637 3.637 3.637 3.63 3.637 3.636 3.636 3.636 3.63 3.636 Year 15 3.63 3.636 3.636 3.636 3.636 3.63 3.637 3.637 3.637 3.637 3.63 3.637 Year 16 3.63 3.637 3.637 3.637 3.637 3.63 3.636 3.636 3.636 3.636 3.636 Year 17 3.636 3.636 3.63 3.636 3.636 3.63 3.637 3.637 3.637 3.637 3.63' 3.637 Year 18 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 Year 19 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 20 3.637 3.637 3.637 3.637 3.637 3.637 3.636 .636 3.636 3.636 3.636 3.636 Year 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 22 3.637 3.637 3.637 3.637 3.637 3.63 3.636 3.636 3.636 3.636 3.636 3.636 Year 23 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 24 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 25 3.636 .636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 26 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 Year 27 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.63' 3.637 Year 28 1.97 2.27 2.576 2.879 3.182 3.48 3.636 3.636 3.636 3.63 3.636 Year 29 0.152 0.455 0.758 1.061 1.364 1.667TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 13, 1993) Month Property Placed in Service Month 2 Month 3 Month 4 Month 5 Month 6 Month 8 Month 9 Month 10 Month 11 Month 12 Year 3.042% 2.778% 2.513% 2.249% 1.984% 1.455% 1.190% 0.926% 0.661% 0.397% 0.132% 3.17 3.175 3.175 3.175 3.175 3.175 Year 8 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.175 Year 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 10 3.175 3.174 3.175 3.175 3.174 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.17 3.174 3.174 3.175 3.174 3.175 Year 12 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 13 3.174 3.174 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 Year 15 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 Year 16 3.175 3.174 3.175 3.175 3.174 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 Year 18 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 Year 19 3.174 3.174 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 21 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 22 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.115 3.174 3.175 3.174 3.175 Year 24 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 Year 25 3.174 3.175 3.174 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 27 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 Year 28 3.175 3.174 3.175 3.175 3.175 3.174 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 Year 30 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 Year 31 3.174 3.174 3.174 3.175 3.175 3.174 3.175 1.720 1.984 2.513 2.778 3.042 3.175 3.174 3.175 3.174 3.175 3.174 Year 33 0.132 0.397 1.455TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 1 2.461% 2.247% 2.033% 1.819% 1.605% 1.391% 1.177% 0.963% 0.749% 0.535% 0.321% 0.107% Year 2-39 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0.963 1.177 1.391 1.605 1.819 2.033 2.247 2.461",
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    "question_posted": "2024-06-28 04:41:31",
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