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thank you I hope these are beter Required information (The following information applies to the questions displayed Phil owns a ranch business and uses four-wheelers
thank you I hope these are beter
Required information (The following information applies to the questions displayed Phil owns a ranch business and uses four-wheelers to do mu for a ride together as a family activity. During year 1, Phil put 1. for $9,600. Of the miles driven, only 239 miles were for perso according to the five-year MACRS schedule and the four-whee Table 1. Table 2. Table 3, Table 4 and Table 5.) (Do not round in nearest whole dollar amount.) applies to the questions displayed below) and uses four-wheelers to do much of his work. Occasiona ily activity. During year 1, Phil put 1.119 miles on the four-whe ven, only 239 miles were for personal use. Assume four-whe MACRS schedule and the four-wheeler was the only asset Ph ble 4 and Table 5.) (Do not round intermediate calculations unt.) low.] of his work. Occasionally, though, he and his boys will go miles on the four-wheeler that he bought on January 15 l use. Assume four-wheelers qualify to be depreciated er was the only asset Phil purchased this year. (Use MACRS termediate calculations. Round your final answers to the $179 expense b. Calculate the allowable depreciation for year 2 if total mile and bonus depreciation). Depreciation deduction were 1,405 and personal-use miles were 530 (ignore the $179 expeStep by Step Solution
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