Question
XYZ Inc. uses a June 30 fiscal year-end. In fiscal year 2019 (year ending June 30, 2019), the company acquired two 3-year class assets shown
XYZ Inc. uses a June 30 fiscal year-end. In fiscal year 2019 (year ending June 30, 2019), the company acquired two 3-year class assets shown below. What cost recovery deduction can XYZ Inc. take in fiscal year 2019? Assume XYZ does not elect to take Sec. 179 expense or bonus depreciation.
Acquisition Date Cost
Asset 1 January 2019 $4,000
Asset 2 May 2019 $10,000
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Cost Accounting Foundations And Evolutions
Authors: Amie Dragoo, Michael Kinney, Cecily Raiborn
10th Edition
1618533533, 9781618533531
