Determine the Largest Possible MACRS Cost Recovery Deduction for 2013

question 80

Essay

Determine the largest possible MACRS cost recovery deduction for 2013 on the following assets,which were purchased for use in Greg's Accounting Services on July 1,2013.Greg elects out of bonus depreciation deduction.
$\begin{array}{lr}\text { Asset } & \text { Cost } \\\text { Office equipment } & \$ 86,000 \\\text { Computer and printers } & 40,000 \\\text { Office building (exclusive of land) } & 150,000\end{array}$
a.Office equipment depreciation for 2013:MACRS recovery period__________Depreciable basis__________Depreciation__________
b.Computer and printer depreciation for 2013:MACRS recovery period__________Depreciable basis__________Depreciation__________
c.Office building depreciation for 2013:MACRS Class Life__________Depreciable basis__________Depreciation__________
d.Assume the office equipment is sold on December 2, 2015. Determine the cost recovery deduction for the year 2015.Depreciation:
e.Assume the building is sold on December 2, 2015. Determine the cost recovery deduction for the year 2015.Depreciation:

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Definitions:

Gender Differences

The distinctions in characteristics, behaviors, and roles traditionally associated with being male or female in a given society.

Depression

An emotional condition defined by continuous experiences of sorrow, desolation, and a diminished interest or delight in pursuits.

Artifact Theory

A perspective suggesting that observed differences in certain measures across cultures or groups are not due to actual differences in the constructs being measured, but due to the measurement instruments or procedures.

Developmental Psychopathology

The study of how psychological disorders arise and change with time, often emphasizing how childhood experiences can influence adulthood.