Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) (Algo) The following information applies to the questions displayed below) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, begon business > 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020 Dute laced in net Coat office furniture SEVIC 3.270,000 02/03/2020 Machinery 1.584,000 02/22/2020 sed delivery truck 60.000 08/17/2020 "Not considered a luxury automobile During 2020, Karane was very successful and had no 1179 limitations and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2027 Date Place Service Computers and information system 424,000 03/31/2021 La auto 85,000 03/26/2011 Assembly 1.320,000 08/15/2021 Haraya ) 700.000 11/33/2001 Used 100% for business purposes Karane generated taxable income in 2021 of $162,500 for purposes of computing the $179 expense limitation (Use MACRS Table Table 2. Table 3. Table 4. Tube 5. and Exhibit 10.10.) (Leave no answer blank. Enter zero ir applicable. Input all the values as positive numbers.) coat Comprehensive Problem 10-76 Part a (Algo) Nont> Assembly equipment Storage wild 0,000 1.320,000 700.000 05/26/2011 08/15/2021 11/13/2011 TUsed 100% for business purposes Karane generated taxable income in 2021 of $1762,500 for purposes of computing the $179 expense limitation (Use MACRS Tables Table 2. Table 3. Table 4. Tables and Exhibit 10.10.) (Leave no answer blank. Enterrero applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Parta (Algo) ces Required: a. Compute the maximum 2020 depreciation deductions, including 5179 expense ignoring bonus depreciation). Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction Office furniture Machinery Used delivery truck Total Naut 22 51./6.600 for purposes of computing the 1179 pense limitation (Use MACRS Table Table 2. Table 3. Tables Tables and Ex L 10:10 Leave no answer blank, Enter teroit applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part b (Algo) Required: b. Compute the maximum 2021 depreciation deductions, including $179 expense ignoring bonus depreciation Description Cost Section 170 Expense MACRS b Cure MACRS Depreciation Total Cost Recovery Deduction 2020 Assets Office furniture Machinery Used delivery truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total Tofs Comprehensive Problem 10-76 Part c (Algo) Required: c. Compute the maximum 2021 depreciation deductions, including 5179 expense, but now assume that Karane would like to the bonus depreciation Cost Section 1 Expense Bonus MACRS B Current MAGRS Depreciation Total Cost Recovery Deduction Description 2020 Assets Office Furniture Machinery Used Delivery Truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total on 4 3 5 Next > Required information 1 2 Form 4562 Page 1 and 2. Form 4562 Depot Depreciation and Amortization (Including Information on Listed Property) A to your a to www.iron2 for renewal information 15450172 2020 Aantha Parti Election To Expense Certain Property Under Section 170 Note: you have any property Core Pert before you complete all 1 Mammor 2 To Couto con 179 3 Threshoot rectan 12 om Ratne Dobarone year onder anaa nee |ecom operty Islaces 4 La proty Enterotrome 20 Toulded pro Adamones and Tweed Enthemorra 10 Carryover of lowed from of your 2018 Form 4562 10 11 none of the less than where to 10 12 con personer 12 13 13 Camover of disconto Add nesand 10. in 12 Note: Do not use Part No Pat I below for listed property Instead, use Part Partil Special Depreciation Allowance and Other Depreciation (Don't include integroperty to inductions Required information Procery 16 de Part 1 MACRS Depreciation Don't wasted roperty Sentrion) Section A I WANGRS Decor for paced in year 2000 Section Asset Placed in Service During 2020 Tax Year Using the General Depreciation System de al con Mohody wy Con Vie be 1 year property yer copy 10 year property 120w property 25 y property 25 years 3 27.5 year MU SIL 275 years MM SL MM SE MV SAL Section Assets Placed in Service During 2020 Tax Year Using the Alternative Depreciation System SL 3 Glow SIL 12 years 12 M 30 years SIL cy MU 40 years SE 5.40 (See Part IV Summary structions 21 14 21 Lt Enamo 25 CD NO Required information Form 4562 Form 4582 PG 2009 Part V C Page Note: tron of Stof Section and Section Section A-Depreciation and Other Information (Caution: See the instructions for more Mae you are welco mer 20 e) Type of bi Date port placed Cather Bespre con whit servo int perdere only deloc Monoprotege year 20 One the 26 Party and more than 27 Property do bus SL SL 28 Added on 21,1 20 20 Added on page 1 29 Section Information on Use of Vehicles Cam thaction to byl programa raw you provides your age melancong conforme Required information Gal Vide 1 Voice 2 Veh Dal Vehicles th 30 greyer 3 comme year 32.png the Andes 2012 When NO Yes Nie Yes No Yes NO Yes No We No ht 35 Was many by som tower FOOD Us D ! BB DO : D Section Gunstone for Employers Who Provide Vehicles for use by Their Employers Adomo ya mwing overed by www 37 Do you with ples personnel 58 Dom w polymorphone, pc, ly you are wed De corporis 30 on your stor 40 styckeyeus, dann from your compresso em w received 41 Daycombe demonstron Struction Note Ecome contre sovende Part VI Amortation NA Al Decreto Amore on Code gewe Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) (Algo) The following information applies to the questions displayed below) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, begon business > 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020 Dute laced in net Coat office furniture SEVIC 3.270,000 02/03/2020 Machinery 1.584,000 02/22/2020 sed delivery truck 60.000 08/17/2020 "Not considered a luxury automobile During 2020, Karane was very successful and had no 1179 limitations and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2027 Date Place Service Computers and information system 424,000 03/31/2021 La auto 85,000 03/26/2011 Assembly 1.320,000 08/15/2021 Haraya ) 700.000 11/33/2001 Used 100% for business purposes Karane generated taxable income in 2021 of $162,500 for purposes of computing the $179 expense limitation (Use MACRS Table Table 2. Table 3. Table 4. Tube 5. and Exhibit 10.10.) (Leave no answer blank. Enter zero ir applicable. Input all the values as positive numbers.) coat Comprehensive Problem 10-76 Part a (Algo) Nont> Assembly equipment Storage wild 0,000 1.320,000 700.000 05/26/2011 08/15/2021 11/13/2011 TUsed 100% for business purposes Karane generated taxable income in 2021 of $1762,500 for purposes of computing the $179 expense limitation (Use MACRS Tables Table 2. Table 3. Table 4. Tables and Exhibit 10.10.) (Leave no answer blank. Enterrero applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Parta (Algo) ces Required: a. Compute the maximum 2020 depreciation deductions, including 5179 expense ignoring bonus depreciation). Description Cost $179 Expense MACRS Basis Current MACRS Depreciation Total Cost Recovery Deduction Office furniture Machinery Used delivery truck Total Naut 22 51./6.600 for purposes of computing the 1179 pense limitation (Use MACRS Table Table 2. Table 3. Tables Tables and Ex L 10:10 Leave no answer blank, Enter teroit applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part b (Algo) Required: b. Compute the maximum 2021 depreciation deductions, including $179 expense ignoring bonus depreciation Description Cost Section 170 Expense MACRS b Cure MACRS Depreciation Total Cost Recovery Deduction 2020 Assets Office furniture Machinery Used delivery truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total Tofs Comprehensive Problem 10-76 Part c (Algo) Required: c. Compute the maximum 2021 depreciation deductions, including 5179 expense, but now assume that Karane would like to the bonus depreciation Cost Section 1 Expense Bonus MACRS B Current MAGRS Depreciation Total Cost Recovery Deduction Description 2020 Assets Office Furniture Machinery Used Delivery Truck 2021 Assets Computers and Information System Luxury Auto Assembly Equipment Storage Building Total on 4 3 5 Next > Required information 1 2 Form 4562 Page 1 and 2. Form 4562 Depot Depreciation and Amortization (Including Information on Listed Property) A to your a to www.iron2 for renewal information 15450172 2020 Aantha Parti Election To Expense Certain Property Under Section 170 Note: you have any property Core Pert before you complete all 1 Mammor 2 To Couto con 179 3 Threshoot rectan 12 om Ratne Dobarone year onder anaa nee |ecom operty Islaces 4 La proty Enterotrome 20 Toulded pro Adamones and Tweed Enthemorra 10 Carryover of lowed from of your 2018 Form 4562 10 11 none of the less than where to 10 12 con personer 12 13 13 Camover of disconto Add nesand 10. in 12 Note: Do not use Part No Pat I below for listed property Instead, use Part Partil Special Depreciation Allowance and Other Depreciation (Don't include integroperty to inductions Required information Procery 16 de Part 1 MACRS Depreciation Don't wasted roperty Sentrion) Section A I WANGRS Decor for paced in year 2000 Section Asset Placed in Service During 2020 Tax Year Using the General Depreciation System de al con Mohody wy Con Vie be 1 year property yer copy 10 year property 120w property 25 y property 25 years 3 27.5 year MU SIL 275 years MM SL MM SE MV SAL Section Assets Placed in Service During 2020 Tax Year Using the Alternative Depreciation System SL 3 Glow SIL 12 years 12 M 30 years SIL cy MU 40 years SE 5.40 (See Part IV Summary structions 21 14 21 Lt Enamo 25 CD NO Required information Form 4562 Form 4582 PG 2009 Part V C Page Note: tron of Stof Section and Section Section A-Depreciation and Other Information (Caution: See the instructions for more Mae you are welco mer 20 e) Type of bi Date port placed Cather Bespre con whit servo int perdere only deloc Monoprotege year 20 One the 26 Party and more than 27 Property do bus SL SL 28 Added on 21,1 20 20 Added on page 1 29 Section Information on Use of Vehicles Cam thaction to byl programa raw you provides your age melancong conforme Required information Gal Vide 1 Voice 2 Veh Dal Vehicles th 30 greyer 3 comme year 32.png the Andes 2012 When NO Yes Nie Yes No Yes NO Yes No We No ht 35 Was many by som tower FOOD Us D ! BB DO : D Section Gunstone for Employers Who Provide Vehicles for use by Their Employers Adomo ya mwing overed by www 37 Do you with ples personnel 58 Dom w polymorphone, pc, ly you are wed De corporis 30 on your stor 40 styckeyeus, dann from your compresso em w received 41 Daycombe demonstron Struction Note Ecome contre sovende Part VI Amortation NA Al Decreto Amore on Code gewe