Question
USA . At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year: Date Cost
USA. At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year:
| Date | Cost | ||
| Asset | Acquired | Basis | |
| Computers | 1/30 | $ | 49,000 |
| Office desks | 2/15 | $ | 53,000 |
| Machinery | 7/25 | $ | 96,000 |
| Office building | 8/13 | $ | 428,000 |
|
| |||
Assuming Anna does not elect 179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS
a. What is Annas year 1 cost recovery for each asset?
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Payroll Accounting 20
Authors: Bernard J. Bieg, Judith A. Toland
26th Edition
1337268798, 9781337268790
