Homework Answers
| Answer | ||||
|
Year |
MACRS CAL | MACRS AMOUNT | RECOVERY LIMITATION | DEPRECIATION ALLOWED |
| 2018 | 70250×20%×75% | $ 10,537.5 | 10000×70% = 7000 | $ 10,537.5 |
| 2019 | 70250×32%×75% | $ 16,860 | 16000×70%=11200 | $ 16,860 |
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On April 5, 2018, Kinsey places in service a new automobile that cost $70,250. He does...
On April 5, 2018, Kinsey places in service a new automobile that cost $49,250. He does...
On April 5, 2018, Kinsey places in service a new automobile that cost $49,250. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 85% for business and 15% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this problem. Assume the following luxury...
Only correct answers. This is the third time posting this. On April 5, 2018, Kinsey places...
Only correct answers. This is the third time posting this.
On April 5, 2018, Kinsey places in service a new automobile that cost $70,250. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 75% for business and 25% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost $65,000. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 60% for business and 40% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost $68,750. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 95% for business and 5% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
Exercise 5-9 (Algorithmic) (LO. 8) On April 5, 2019, Kinsey places in service a new automobile...
Exercise 5-9 (Algorithmic) (LO. 8) On April 5, 2019, Kinsey places in service a new automobile that cost $50,750. He does not elect g 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 70% for business and 30% for personal use in each tax year. Kinsey chooses the MACRS 200 % declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for...
Exercise 8-27 (Algorithmic) (LO.4) On April 5, 2019, Kinsey places in service a new automobile that...
Exercise 8-27 (Algorithmic) (LO.4) On April 5, 2019, Kinsey places in service a new automobile that cost $45,500. He does not elect $ 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 80% for business and 209 chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this problem. Assume the following luxury automobile limitations: year 1:...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost 576,250. He does not elect $ 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 90% for business and 10% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
For 2018 the answer is not 9835, 10538, and 21075. For 2019 the answer is not...
For 2018 the answer is not 9835, 10538, and 21075. For 2019 the
answer is not 15736, 16860, and 10237.
On April 5, 2018, Kinsey places in service a new automobile that cost $70,250. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 75% for business and 25% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto...
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The...
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Assume Kinsey elects any available additional first-year depreciation. The maximum depreciation allowed for 2019 is $ 12000 X and for 2020 is $ 19200
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The...
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Assume Kinsey elects any available additional first-year depreciation. The maximum depreciation allowed for 2019 is $ 12000 X and for 2020 is S 16000 20 5 Hint(s) EXHIBIT 8.4 MACRS Accelerated Depreciation for Personal Property Assuming Half-Year Convention...
Only correct answers. This is the third time posting this.
On April 5, 2018, Kinsey places in service a new automobile that cost $70,250. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 75% for business and 25% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost $65,000. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 60% for business and 40% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost $68,750. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 95% for business and 5% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
Exercise 5-9 (Algorithmic) (LO. 8) On April 5, 2019, Kinsey places in service a new automobile that cost $50,750. He does not elect g 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 70% for business and 30% for personal use in each tax year. Kinsey chooses the MACRS 200 % declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for...
Exercise 8-27 (Algorithmic) (LO.4) On April 5, 2019, Kinsey places in service a new automobile that cost $45,500. He does not elect $ 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 80% for business and 209 chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this problem. Assume the following luxury automobile limitations: year 1:...
Exercise 8-27 (Algorithmic) (LO. 4) On April 5, 2019, Kinsey places in service a new automobile that cost 576,250. He does not elect $ 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 90% for business and 10% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Click here to access the depreciation table to use for this...
For 2018 the answer is not 9835, 10538, and 21075. For 2019 the
answer is not 15736, 16860, and 10237.
On April 5, 2018, Kinsey places in service a new automobile that cost $70,250. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 75% for business and 25% for personal use in each tax year. Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto...
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Assume Kinsey elects any available additional first-year depreciation. The maximum depreciation allowed for 2019 is $ 12000 X and for 2020 is $ 19200
On April 5, 2019, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset). Assume Kinsey elects any available additional first-year depreciation. The maximum depreciation allowed for 2019 is $ 12000 X and for 2020 is S 16000 20 5 Hint(s) EXHIBIT 8.4 MACRS Accelerated Depreciation for Personal Property Assuming Half-Year Convention...
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