At December 31,2018,the Following Data Were Available for a Building

question 42

Essay

At December 31,2018,the following data were available for a building owned by Omega Company:

A small room was built on the back of the building at a cost of $45,000.The room was completed on June 30,2019 and was used as office space commencing July 2,2019.The company uses straight-line depreciation,and accounts for partial years using the number of months the asset is available for use.
Required:
How much is the impact of this expenditure on income before taxes for 2019?

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Definitions:

Automatic Thoughts

Refers to immediate, involuntary thoughts and assumptions that arise in response to specific situations.

Irrational Belief System

A psychological framework involving illogical or unrealistic beliefs that can lead to emotional and behavioral issues.

Aaron Beck

A psychiatrist known for pioneering cognitive therapy, which has been widely used in treating depression and other mental health disorders.

Albert Ellis

An American psychologist who developed Rational Emotive Behavior Therapy (REBT), focusing on helping patients change irrational beliefs.