Question

QUESTION 4 Poplock Corporation acquired and placed in service the following assets during the year Asset Date Acquired Cost Basis Computer equipment 3/23 57.000 Dog grooming furniture 5/12 $7,000 Pickup truck 9/17 $10,000 Commercial building 10/11 $270,000 Land (one acre) 10/11 $80,000 Assuming DLW does not elect 5179 expensing or bonus depreciation. What is Poplock's year 2 total cost recovery for these assets? QUESTIONS DLW Corporation acquired and placed in service the following assets during the year: Asset Computer equipment Furniture Commercial building Date Acquired 2/17 5/12 Cost Basis $10,000 $18,000 1111 $270,000 Assuming DLW does not elect 5179 expensing and elects not to use bonus depreciation, what is DLW's year 3 cost recovery for each asset i DLW sells all of these assets on 1/23 of year 37

Answer 1

poplock's yelled a total cost recovery 10 these assets Inswer page or depreciation ist 5 2240 7 5 4th 39 10-Nov 2 ] purchase Recovery osiginal Asset date Quarter periode basis (a) Rate (B) I CA)xCB). Computer Lyeous) equipment Mat.23 $7000 32.00 $ Dog groming furniture 05.dec and $7000 24.49.13 $ 1914 pickup truuk sep- 4340 $10,000 32.00 -1. $ 3200 commercial building $270000 5647. $ 6923 $14077 ② DLWl's year 3 3 cost svecovery to each asset Life OLW Sells all of these assets on '123 year 34 purchase Recovery original Rate depreciation Asset date (A) XCB) computer Feb-17 19.2013 equipment $18000 17.49:10 4 3148 commercial building 11-jan 39 $270000 2.564% فيها yeoxs) basis (1) $10000 5 $1920 05 - Dec 7 . furnitwie 46923 $ 11991