User Account

All Pages

What macrs convention applies to the assets

Assignment Help Accounting Basics
Reference no: EM132462122

Debra acquired the following new assets during 2019:

Date                                 AssetCost

April 11                      Furniture $40,000

July 28                      Trucks 40,000

November 3           Computers 70,000

Debra does not elect immediate expensing under § 179. She does not claim any available additional first-year depreciation.

  1. If required, round your answers to the nearest dollar.
  2. Click here to access the depreciation tables to use for this problem.

Question a. What MACRS convention applies to the assets?

  1. Mid-quarter

Question b. What class of property is each asset for MACRS?

Furniture: Seven-year

Trucks: Five-year

Computers: Five-year

Question c. The cost recovery deductions for the current year is:

Furniture:$

Trucks:$

Computers:$

Reference no: EM132462122

Questions Cloud

What percent of the original cost of apples property : What percent of the original cost of Apple's property and equipment remains to be depreciated as of September 28, 2013 and September 29, 2012?
What is the companys working capital : What is the company's Working Capital? What is the company's Quick Ratio?As of December 31, the Stanford Company has the following information
Unit Y/615/2668 Strategic Planning Assignment : Unit Y/615/2668 Strategic Planning Assignment Help and Solution, ATHE Level 7 Diploma in Management - Assessment Writing Service - Explain organisational vision
Discuss why the factors are prevalent for the family : What is the impact of these SDOH on the family? Discuss why these factors are prevalent for this family. Based on the information gathered through the family.
What macrs convention applies to the assets : What MACRS convention applies to the assets?What class of property is each asset for MACRS?The cost recovery deductions for the current year is
How do leadership and leadership responsibilities differ : What does leadership mean to you? Additionally, how do leadership and leadership responsibilities differ between health care administration leaders and managers
Explain how the new insights might impact your current role : For this Professional Leadership Journal, complete the "Value Systems" assessment. As a scholar-practitioner in the field of health care administration.
Identify a quality improvement opportunity in organization : Identify a quality improvement opportunity in your organization or practice. Describe the problem or issue and propose a quality improvement initiative based.
Determine the amount of mirandas self-employment tax : In 2019, She has no other income. Determine the amount of Miranda's self-employment tax and her for AGI income tax deduction.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd