Midterm solutions - Midterm exam Version A Item Land...

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Midterm examVersion AItemDate of acquisitionBasisLand1/6/2015500,000Building (for manufacturing)1/6/2015750,000Board room table2/5/201525,000Lathe machine3/6/2015125,000Office chairs5/5/201522,500Boxing machine5/26/201595,000Office computer6/7/201515,000Truck for deliveries9/15/2015125,000Die-cast machine10/5/2015385,000Total additions for the year2,042,500Check for mid-quarter:385,00048.6%Mid-quarter applies792,500Form 4562Part ILine 1500,000Line 2792,500Line 32,000,000Line 4-Line 5500,000Line 6 propertyLine 6500,000Die-cast machineLine 7-Truck for deliveriesLine 8500,000Line 9500,000Line 10-Line 11850,000Line 12500,000Part IILine 14146,250Line 15-Line 16-Part IIILine 1765,490Line 19BasisRecovery
Line 19b2,62512,500 5 yearLine 19c29,237133,750 7 yearLine 19j18,458Jan-15750,00039Part IVLine 21-Line 22762,059--checkcheck
LifeOriginal basis§179Rate500,000500,000500,00039750,000750,000750,0002.461%18,458725,00025,00012,50012,50025.00%3,1257125,000125,00062,50062,50025.00%15,625722,50022,50011,25011,25017.85%2,008795,00095,00047,50047,50017.85%8,479515,00015,0007,5007,50025.00%1,8755125,000115,00010,0005,0005,00015.00%7507385,000385,000--3.57%-2,042,500500,0001,542,500146,2501,396,25050,319CostElected cost385,000385,000125,000115,000ConventionMethodDepreciationRemainingbasisBonusdepreciationRemainingbasisDepreciationexpense
MQ200DDB2,625MQ200DDB29,237MMSL18,458
Midterm examVersion BItemDate of acquisitionBasisLand2/1/2015500,000Building (for manufacturing)2/1/2015750,000Board room table2/5/201525,000Lathe machine3/6/2015125,000Office chairs5/5/201522,500Boxing machine5/26/201595,000Office computer6/7/201515,000Die-cast machine8/1/2015385,000Truck for deliveries10/5/2015125,000Total additions for the year2,042,500Check for mid-quarter:125,00015.8%Half Year app792,500Form 4562Part ILine 1500,000Line 2792,500Line 32,000,000Line 4-Line 5500,000Line 6 propLine 6500,000Die-cast maLine 7-Lathe machLine 8500,000Line 9500,000Line 10-Line 11850,000Line 12500,000Part IILine 14146,250Line 15-Line 16-Part IIILine 1765,490Line 19BasisLine 19b14,00070,000Line 19c10,89676,250Line 19j16,853Feb-15750,000
Part IVLine 21-Line 22753,489--checkcheck
LifeOriginal basis§179Rate500,000500,000500,00039750,000750,000750,0002.247%725,00025,00012,50012,50014.29%7125,000115,00010,0005,0005,00014.29%722,50022,50011,25011,25014.29%795,00095,00047,50047,50014.29%515,00015,0007,5007,50020.00%7385,000385,000--14.29%5125,000125,00062,50062,50020.00%2,042,500500,0001,542,500146,2501,396,250pliespertyCostElected costachine385,000385,000hine125,000115,000Recovery

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Term
Fall
Professor
Grud
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Madrid Metro, Metropolitana di Napoli

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