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Poplock acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/23 $3,000 Dog grooming furniture
Poplock acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/23 $3,000 Dog grooming furniture 5/12 $7,000 Pickup truck 9/17 $10,000 Commercial building 10/11 $270,000 Land (one acre) 10/11 $80,000 Assuming DLW does not elect 179 expensing or bonus depreciation. What is Poplock's year 1 total cost recovery for these assets?
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
