Question
Problem 10-61 (LO 10-2, LO 10-3) Chaz Corporation has taxable income in 2019 of $426,000 for purposes of computing the 179 expense and acquired the
Problem 10-61 (LO 10-2, LO 10-3)
Chaz Corporation has taxable income in 2019 of $426,000 for purposes of computing the 179 expense and acquired the following assets during the year:
| Placed in | |||
| Asset | Service | Basis | |
| Office furniture | September 12 | $ | 781,000 |
| Computer equipment | February 10 | 910,000 | |
| Delivery truck | August 21 | 55,000 | |
| Qualified improvement property | September 30 | 1,511,000 | |
| Total | $ | 3,257,000 | |
|
| |||
What is the maximum total depreciation deduction that Chaz may deduct in 2019? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
Problem 10-61 (LO 10-2, LO 10-3)
Chaz Corporation has taxable income in 2019 of $426,000 for purposes of computing the 179 expense and acquired the following assets during the year:
| Placed in | |||
| Asset | Service | Basis | |
| Office furniture | September 12 | $ | 781,000 |
| Computer equipment | February 10 | 910,000 | |
| Delivery truck | August 21 | 55,000 | |
| Qualified improvement property | September 30 | 1,511,000 | |
| Total | $ | 3,257,000 | |
|
| |||
What is the maximum total depreciation deduction that Chaz may deduct in 2019? (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Round your answer to the nearest whole dollar amount.)
| Maximum total depreciation deduction |
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Corporate Governance A Pragmatic Guide For Auditors Directors Investors And Accountants Internal Audit And IT Audit
Authors: Vasant Raval
1st Edition
0367862751, 978-0367862756
