Homework Answers
Question 3
Assets Date Cost Life as Method Depriciation Depriciation
per GDS Rate 1st year Amount
Computer equipment 3/23 $6000 5 Mid-Quarter Convention1st Quarter 35% $2100
Dog-grooming furniture 5/12 $7000 7 Mid-Quarter Convention 4thQuarter 3.57% $249.9
Pickup truck 9/17 $10000 5 Mid-Quarter Convention 3rdQuarter 15% $1500
Commercial building 10/11 $270000 39 straight-line depreciation 0.02564 $6922.8
Land (one acre) 10/11 $80000 - NO Depriciation on land - -
Question 4
Assets Date Cost Life as Method Depriciation Depriciation
per GDS Rate 2nd year Amount
Computer equipment 3/23 $6000 5 Mid-Quarter Convention1st Quarter 26% $1560
Dog-grooming furniture 5/12 $7000 7 Mid-Quarter Convention 4thQuarter 27.55% $1928.5
Pickup truck 9/17 $10000 5 Mid-Quarter Convention 3rdQuarter 34% $34000
Commercial building 10/11 $270000 39 straight-line depreciation 0.02564 $6922.8
Land (one acre) 10/11 $80000 - NO Depriciation on land - -
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QUESTION 3 3/23 Poplock acquired and placed in service the following assets during the year: Asset...
QUESTION 5 DLW Corporation acquired and placed in service the following assets during the year: Asset...
QUESTION 5 DLW Corporation acquired and placed in service the following assets during the year: Asset Cost Basis Computer equipment Furniture Commercial building Date Acquired 2/17 5/12 $10,000 $16,000 $270,000 1171 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 if DLW sells all of these assets on 1/23 of year 3? Question 3 Poplock acquired and placed in service the following assets during the...
Question 3 O out of 2 points Poplock acquired and placed in service the following assets...
Question 3 O out of 2 points Poplock acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis 3/23 $6,000 Computer equipment 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 1 total cost recovery for these assets? Selected Answer: 0 Question 4 O out of 2 points Poplock Corporation acquired...
QUESTION 4 Poplock Corporation acquired and placed in service the following assets during the year Asset...
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...
At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff’s Palace....
At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff’s Palace. Poplock bought and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 3/23 $5,000 Dog grooming furniture 5/12 $7,000 Pickup truck 9/17 $10,000 Commercial building 10/11 $280,000 Land (one acre) 10/11 $80,000 a) Assuming Poplock does not elect §179 expensing or bonus depreciation, what is Poplock’s year 1 depreciation expense for each asset? b) Assuming Poplock does not elect §179 expensing or bonus depreciation, what is...
At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace....
At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 3/23 $ 9,400 Dog-grooming furniture 5/12 11,400 Pickup truck 9/17 10,000 Commercial building 10/11 314,000 Land (one acre) 10/11 124,000 Assuming Poplock does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table...
When solving for 2019 Tax Year, please ASSUME that the real property was placed in business...
When solving for 2019 Tax Year, please ASSUME that the real
property was placed in business after May 13,1993
46. At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets dur- ing the year: Asset Date Acquired Cost Basis Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 5/12 9/17 10/11 10/11 $ 5,000 7,000 10,000 270,000 80,000 Assuming Poplock does not...
100 Check my wotn Cost Date Acquired 3/23 5/12 9/17 10/11 10/11 Ваsis Asset 9,200 11,200 10,000 312,000 Computer eq...
100 Check my wotn Cost Date Acquired 3/23 5/12 9/17 10/11 10/11 Ваsis Asset 9,200 11,200 10,000 312,000 Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 122,000 Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank....
Required information (The following information applies to the questions displayed below.] At the beginning of the...
Required information (The following information applies to the questions displayed below.] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Cost Date Asset Acquired Basis Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 9,800 11,800 10,000 318,000 5/12 9/17 10/11 10/11 128,000 Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation,...
QUESTIONS DLW Corporation acquired and placed in service the following assets during the year Asset Computer...
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 11/1 Cost Basis $10,000 $16.000 $270.000 Assuming DLW does not elect 5179 expensing and elects not to use bonus depreciation, what is DLWs year 3 cost recovery for each asset if DLW sells all of these assets on 1/23 of year 37 QUESTION G On November 10 of yoor 1 Javier purchased a building, including the...
DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset...
DLW Corporation acquired and placed in service the following assets during the year: Date Cost Asset Acquired Basis Computer equipment 2/17 $ 10,000 Furniture 5/12 $ 17,000 Commercial building 11/1 $ 270,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What...
QUESTION 5 DLW Corporation acquired and placed in service the following assets during the year: Asset Cost Basis Computer equipment Furniture Commercial building Date Acquired 2/17 5/12 $10,000 $16,000 $270,000 1171 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 if DLW sells all of these assets on 1/23 of year 3? Question 3 Poplock acquired and placed in service the following assets during the...
Question 3 O out of 2 points Poplock acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis 3/23 $6,000 Computer equipment 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 1 total cost recovery for these assets? Selected Answer: 0 Question 4 O out of 2 points Poplock Corporation acquired...
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...
When solving for 2019 Tax Year, please ASSUME that the real
property was placed in business after May 13,1993
46. At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets dur- ing the year: Asset Date Acquired Cost Basis Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 5/12 9/17 10/11 10/11 $ 5,000 7,000 10,000 270,000 80,000 Assuming Poplock does not...
100 Check my wotn Cost Date Acquired 3/23 5/12 9/17 10/11 10/11 Ваsis Asset 9,200 11,200 10,000 312,000 Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 122,000 Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank....
Required information (The following information applies to the questions displayed below.] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Cost Date Asset Acquired Basis Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 9,800 11,800 10,000 318,000 5/12 9/17 10/11 10/11 128,000 Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation,...
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 11/1 Cost Basis $10,000 $16.000 $270.000 Assuming DLW does not elect 5179 expensing and elects not to use bonus depreciation, what is DLWs year 3 cost recovery for each asset if DLW sells all of these assets on 1/23 of year 37 QUESTION G On November 10 of yoor 1 Javier purchased a building, including the...
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