Chapter 10 Group Assignment Solutions.docx - PTX Chapter 10...

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PTXChapter 10 Group AssignmentNote: You MUST type your answers. If you would like the opportunity to earn partial credit, be sure to show your work. You are free to round your answers in any way that you like.In this assignment, assume that the Sec. 179 and bonus depreciation tax apply to the 2016 tax year where applicable.1. For a-d, determine the total depreciation amount for 2017 assuming the taxpayer opted out of Sec. 179 and bonus if they were available in the year of purchase. In addition, assume all taxpayers use a calendar year tax period and that the property mentioned was the only property purchased in the year of acquisition.(20 points total, 5 points each)
bA dentist purchased 10 new chairs and a couch for it waiting room, which cost $3,000 on October 15, 2017.
cA restaurant purchased booths and chairs totaling $15,000 on November 1, 2017 and kitchen equipment costing $4,000 on June 15, 2017.
dA telemarketing company purchased a separate computer, office chair, and desk for each of its new staff on January 15, 2016. The total costs for the computers, office chairs, and desks was $30,000, $3,000, and $8,000, respectively.$12,293.90

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