Harrison Acquires $65,000 of 5-Year Property in June 2012 That

question 53

Multiple Choice

Harrison acquires $65,000 of 5-year property in June 2012 that is required to be depreciated using the mid-quarter convention (because of other purchases that year) .He did not elect Sec.179 immediate expensing.Bonus depreciation was not available.If Harrison sells the property on August 23,2014,what is the amount of depreciation claimed in 2014?

• A)$6,500.00
• B)$7,312.50
• C)$11,700.00
• D)$9,289.00

Understand principles of sharia law as they apply to employer and employee responsibilities in Islamic countries.

Recognize the tax benefits and requirements under the Patient Protection and Affordable Care Act for small businesses.

Understand employer obligations regarding work breaks and employee compensation under the Fair Labor Standards Act.

Evaluate the impact of personal online disclosures on hiring decisions and discrimination.

---

Definitions:

Inflation Rates

The pace at which overall prices for goods and services climb, diminishing the value of money.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return.

Interest Rate

The percentage charged by a lender to a borrower for the use of assets, reflecting the cost of borrowing money.

Future Payment

A payment that is scheduled to be made at a specified date in the future.