2 a hair salon purchases a new computer for the

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and desks was $30,000, $3,000, and $8,000, respectively.2.A hair salon purchases a new computer for the checkout desk on October 21, 2015 for $1,500, which was the only property it purchased that year. The firm sells the equipment on October 3, 2017. Assume the firm always opts out of Sec. 179 and bonus if available and uses a calendar year tax period. How much total depreciation does the firm have for the computer in 2017?(10 points)1
3.A textile company purchased the following assets throughout 2017:AssetPlaced in serviceInitial BasisLand for millJanuary 1$1,000,000Mill buildingJanuary 1$300,000Equipment (new)March 4$1,800,000Small used truck for deliveriesJune 8$25,000Total$3,125,000What is the maximum totaldepreciation expense possible that the corporation may deduct in 2017? Assume that the land and mill building do not qualify as qualified real property for Sec. 179 and that the company has sufficient taxable income that it creates no binding limitation on any potential Sec. 179 expense (if applicable). To allow better potential for partial credit, please out the following table fully like we did with the in-class exercise (e.g. the Sec. 179 expense, bonus, regular depreciation rates, etc.). Note that you will not be given this table on the Midterm. (30 points)

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