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Required information The following information applies to the questions displayed below.) Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2018.
Required information 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: Asset office furniture Machinery Used delivery truck $ Cost 158,eee 1,568,00 40,eee Date Placed in Service 22/03/2018 07/22/2013 28/17/2018 "Not considered a luxury automobile. During 2018. Karane was very successful and had no $179 Imitations and decided to accutre more assets in 2019 to Increase its production capacity. These are the assets acquired during 2019: $ Computers & info. system Luncury autot Assembly equipment Storage building Cost 480, eee 99. eee 1,280, eee 780,eee Date Placed in Service 23/31/2019 25/26/2019 es/15/2018 11/13/2019 tused 100% for business purposes. Karane generated taxable income in 2019 of $1,732.500 for purposes of computing the $179 expense. (Use MACRS Table 1 Table 2. Table 3. Table 4 Table 5. and Exhibit 10-10.1 (Leave no answer blank. Enter zero If applicable. Input all the values as positive numbers.) D. Compute the maximum 2019 depreciation deductions, including 3179 expense Ignoring bonus depreciation). Description Cost Sec. 179 Expertise MACRS Basis MACRS Depreciation Depreciation Deduction 50 2018 Assets Office furniture Machinery Used delivery truck 0 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Losos os S Required information 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: Asset office furniture Machinery Used delivery truck $ Cost 158,eee 1,568,00 40,eee Date Placed in Service 22/03/2018 07/22/2013 28/17/2018 "Not considered a luxury automobile. During 2018. Karane was very successful and had no $179 Imitations and decided to accutre more assets in 2019 to Increase its production capacity. These are the assets acquired during 2019: $ Computers & info. system Luncury autot Assembly equipment Storage building Cost 480, eee 99. eee 1,280, eee 780,eee Date Placed in Service 23/31/2019 25/26/2019 es/15/2018 11/13/2019 tused 100% for business purposes. Karane generated taxable income in 2019 of $1,732.500 for purposes of computing the $179 expense. (Use MACRS Table 1 Table 2. Table 3. Table 4 Table 5. and Exhibit 10-10.1 (Leave no answer blank. Enter zero If applicable. Input all the values as positive numbers.) D. Compute the maximum 2019 depreciation deductions, including 3179 expense Ignoring bonus depreciation). Description Cost Sec. 179 Expertise MACRS Basis MACRS Depreciation Depreciation Deduction 50 2018 Assets Office furniture Machinery Used delivery truck 0 2019 Assets Computers & Info System Luxury Auto Assembly Equipment Storage Building Losos os S
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