Bonnie Jo Used Two Assets During the Current Year

question 105

Short Answer

Bonnie Jo used two assets during the current year. The first was computer equipment with an original basis of $15,000, currently in the second year of depreciation, and under the half-year convention. This asset was disposed of on October 1st of the current year. The second was furniture with an original basis of $24,000 placed in service during the first quarter, currently in the fourth year of depreciation, and under the mid-quarter convention. What is Bonnie Jo's depreciation expense for the current year, rounded to the nearest whole number?

---

Definitions:

Modes of Thinking

Modes of thinking refer to the various cognitive processes and strategies an individual uses to process information, solve problems, and make decisions.

Modes of Acting

Various methods or approaches an individual might employ to interact with, influence, or relate to others in a social or professional context.

Modes of Interacting

The various ways in which individuals communicate and engage with each other, including verbal, non-verbal, and digital methods.

Attribution

The process of explaining the causes of behavior or events, often attributing them to internal dispositions or external situations.