Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Calculate the following: Click here to access the various depreciation tables. If required, round your final answers to the nearest dollar. If your answer is zero, enter "0". a. The first year of depreciation on a office building that cost $250,000 purchased June 2, 2021. 6,410 X Feedback ►Check My Work b. The second year (2022) of depreciation on a computer that cost $5,000 purchased in May 2021, using the half-year convention and accelerated depreciation considering any bonus depreciation taken. 0 Feedback Check My Work c. The first year of depreciation on a computer costing $2,800 purchased in May 2021, using the half-year convention and straight-line depreciation with no bonus depreciation. 280 ✓ Feedback ▸ Check My Work d. The third year of depreciation on business furniture costing $10,000 purchased in March 2019, using the half-year convention and accelerated depreciation but no bonus depreciation. 1.749✔

Modified Accelerated Cost Recovery System (MACRS) (LO 8.2) Calculate the following: Click here to access the various depreciation tables. If required, round your final answers to the nearest dollar. If your answer is zero, enter "0". a. The first year of depreciation on a office building that cost $250,000 purchased June 2, 2021. 6,410 X Feedback ►Check My Work b. The second year (2022) of depreciation on a computer that cost $5,000 purchased in May 2021, using the half-year convention and accelerated depreciation considering any bonus depreciation taken. 0 Feedback Check My Work c. The first year of depreciation on a computer costing $2,800 purchased in May 2021, using the half-year convention and straight-line depreciation with no bonus depreciation. 280 ✓ Feedback ▸ Check My Work d. The third year of depreciation on business furniture costing $10,000 purchased in March 2019, using the half-year convention and accelerated depreciation but no bonus depreciation. 1.749✔

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter8: Depreciation And Sale Of Business Property

Section: Chapter Questions

Problem 7P: Calculate the following: The first year of depreciation on a residential rental building costing...

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