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plz check the answer and fill in the blanks the assembly row, there are misaing numbers. also check the totals of total depreciation deduction make
plz check the answer and fill in the blanks the assembly row, there are misaing numbers. also check the totals of total depreciation deduction make sure its correct
2 The following information applies to the questions displayed below) Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Part 2 of 3 Asset ottice furniture Machinery Used delivery truck Cost $ 150,000 1.560,000 40.000 Date placed in Service 02/03/2018 07/22/2018 08/17/2018 *Not considered a luxury automobile. During 2018, Karane was very successful and had no 5179 limitations) and decided to acquire more assets in 2019 to Increase its production capacity. These are the assets acquired during 2019: Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 400,000 80,000 1,200,000 700,000 Date Placed in Service 03/31/2019 05/26/2019 08/15/2019 11/13/2019 Used 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the 5179 expense. (Use MACRS Table 1. Table 2. Table 3. Table 4. Table 5, and Exhibit 10.10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) 2 Part 2 of 3 c. Compute the maximum 2019 depreciation deductions, including 9179 expense, but now assume thot Korone would like to take bonus depreciation Description Cost Sec 179 Expense Bonun MACRS Banie Current MACRS Depreciation Tota Depreciation Deduction 5 os 2018 Assets Office furniture Machinery Used delivery truck 150,000 $ 1,560,000 40,000 0 0 or s 0 0 150,000 $ 560,000 40,000 36.735$ 137,144 12,800 36,735 137.144 12,800 0 400,000 80,000 80,000 10,000 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building 0 400.000 80.000 1.200,000 700,000 400,000 8,000 180,000 0 480,000 18,000 1.200,000 2.247 1,020,000 01 700,000 2,247 588,000 $1,930,000 $ $ 4,130,000 $ 1.020,000 $ Totals 278,926 $ 1,206,926 Step by Step Solution
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