Homework Answers
Part 34
Answer is option A
a. $535
Basis for depreciation =value of factory – value of land = 150000-50000 = $100000
Depreciation = 100000*1/39*2.5/12 = $534.188 = $535
Part 34
Answer is option B
b. An unmodified company van weighing 7,500 pounds
A van weighing less than 6,000 pounds are subject to the Section 280F depreciation limits whereas van weighing over 6,000 pounds gross vehicle are not subject to the Sec. 280F limits.
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34. On October 20 of the current year, a company with a December 31 year-end purchases...
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bookeeping
33. What is the maximum tax deduction for the machine in 2023 (Year es a. So, because the machine has a 5-year recovery period b. $576 c. $3,226 d. $6,451 34. On October 20 of the current vear, a company with a December 31 Year-end purchases a factory for $150,000, which includes $50.000 the land. What is first-year depreciation for this asset under MACRS? a. $535 b. $53,500 c. $111 d. $2,461 35. Which of the following is not...
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