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please show all work Two years ago, Bethesda Corporation bought a delivery truck for $30,000 (not subject to the luxury auto depreciation limits). Bethesda used

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Two years ago, Bethesda Corporation bought a delivery truck for $30,000 (not subject to the luxury auto depreciation limits). Bethesda used MACRS 200 percent declining balance and the half-year convention to recover the cost of the truck, but it did not elect \$179 expensing and opted out of bonus depreciation. Answer the questions for the following alternative scenarios. Use:MACRS Table: Required: a. Assuming Bethesda used the truck until it sold it in March of year 3, what depreciation expense can it claim on the truck for years 1 through 3 ? b. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $17,000 and incurred $2,000 of selling expenses on the sale? c. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $35,000 and incurred $3,000 of selling expenses on the sale? Complete this question by entering your answers in the tabs below. Assuming Bethesda used the truck until it sold it in March of year 3, what depreciation expense can it claim on the truck for years 1 through 3 ? Note: Do not round percentages used for calculations. Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Two years ago, Bethesda Corporation bought a delivery truck for $30,000 (not subject to the luxury auto depreciation limits). Bethesda used MACRS 200 percent declining balance and the half-year convention to recover the cost of the truck, but it did not elect $179 expensing and opted out of bonus depreciation. Answer the questions for the following alternative scenarios. Use MACRS Table. Required: a. Assuming Bethesda used the truck until it sold it in March of year 3, what depreciation expense can it claim on the truck for years 1 through 3 ? b. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $17,000 and incurred $2,000 of selling expenses on the sale? c. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $35,000 and incurred $3,000 of selling expenses on the sale? Complete this question by entering your answers in the tabs below. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $17,000 and incurred $2,000 of selling expenses on the sale? Note: Do not round percentages used for calculations. Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Two years ago, Bethesda Corporation bought a delivery truck for $30,000 (not subject to the luxury auto depreciation limits). Bethesda used MACRS 200 percent declining balance and the half-year convention to recover the cost of the truck, but it did not elect \$179 expensing and opted out of bonus depreciation. Answer the questions for the following alternative scenarios. Use MACRS Table. Required: a. Assuming Bethesda used the truck until it sold it in March of year 3, what depreciation expense can it claim on the truck for years 1 through 3 ? b. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $17,000 and incurred $2,000 of selling expenses on the sale? c. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $35,000 and incurred $3,000 of selling expenses on the sale? Complete this question by entering your answers in the tabs below. Assume that Bethesda claimed $18,480 of depreciation expense on the truck before it sold it in year 3 . What are the amount and character of the gain or loss if Bethesda sold the truck in year 3 for $35,000 and incurred $3,000 of selling expenses on the sale? Note: Do not round percentages used for calculations. Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Table 1 MACRS Half-Year Convention

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