Ch 7 Homework key #8 explanation

Ch 7 Homework key #8 explanation - under section 179....

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You may find the following information useful if you had difficulty understanding the answer to this difficult question: For Ch 7 homework problem number 8 compute the answer as follows: $614,400- 530,000 = $84,400. $530,000 is the excess property limitation. $84,400 is the excess, which must be subtracted from the $134,000 to compute the amount that can be expensed
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Unformatted text preview: under section 179. $134,000 84,400 = $49,600. Only $49,600 can be elected to be expensed, and thus the answer is D. None of the above. Also, see the top of page 173 for the illustration of the excess property limitation, and IV D. in the lecture outline. I hope this helps you. Sincerely, Dr. Anderson...
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