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Wynn Furnace Corp. purchased machinery for $345,000 on May 1, 2014. It is estimated that it will have a useful life of 10 years, scrap value of $45,000, production of 120,000 units, and working hours of 12,500. During 2015 Wynn uses the machinery for 2,000 hours, and the machinery produces 25,000 units.
Instructions
From the information given, compute the depreciation charge for 2015 under each of the following methods.
(Round to three decimal places).
(a) Straight-line.
(b) Units-of-output.
(c) Working hours.
(d) Sum-of-the-years'-digits.
(e) Declining-balance. (Use 20% as the annual rate.)
Richard exchanges a building with a FMV of $75,000, a basis of $35,000, and subject to a liability of $25,000 for land with a FMV of $50,000 owned by Bill. What is the amount of Richard's realized gain?
dougco a domestic corporation owns 100 of thaico a thailand corporation. dougco manufactures top-of-the-line offi ce
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