Assignment 6 - Ch 10 HW.pdf - Assignment 6(Chapter 10 ACCT...

This preview shows page 1 - 2 out of 3 pages.

1 Assignment 6 (Chapter 10) ACCT 351 1.For a-d, determine the total depreciation amount for 2018 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. (25 points total, 5 points each) Total depreciation a A bank purchased a new building for its headquarters, totaling $2 million on April 1, 2015. b A dentist purchased 10 new chairs and a couch for it waiting room, which cost $3,000 on October 15, 2018. c A restaurant purchased booths and chairs totaling $15,000 on November 1, 2018 and kitchen equipment costing $4,000 on June 15, 2018. d A telemarketing company purchased a separate computer, office chair, and desk for each of its new staff on January 15, 2017. The total costs for the computers, office chairs, and desks was $30,000, $3,000, and $8,000, respectively. e. A moving company purchased a lightweight truck, which cost $38,650 on March 8, 2014. Details at purchase

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture