On April 12,2012,Suzanne Bought a Computer for $20,000 for Business

question 14

Multiple Choice

On April 12,2012,Suzanne bought a computer for $20,000 for business use.This was the only purchase for that year.Suzanne used the most accelerated depreciation method available and did not use Sec.179.Bonus depreciation was not available.Suzanne sells the machine in 2013.The depreciation on the computer for 2013 is

• A)$2,000.
• B)$3,200.
• C)$4,000.
• D)$6,400.

Identify and apply the appropriate treatment for intangible assets, including recognition and amortization.

Understand the calculation of gain or loss on the disposal of long-lived assets.

Identify the different categories of costs associated with long-lived assets (maintenance and repairs, improvements, land, buildings, machinery and equipment).

Differentiate between ordinary maintenance, asset improvements, and extraordinary repairs.

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Definitions:

Pension Eligibility

The status of being qualified or entitled to receive pension benefits, often determined by factors such as age, years of service, and contributions to a pension plan.

Financial Circumstances

The condition of an individual or entity's financial assets, liabilities, income, and expenses.

Bone Health

A state of physical well-being where bones are strong, dense, and able to support the body effectively.

Resistance Training

A form of physical exercise involving the lifting of weights or the use of resistance bands to improve muscle strength and endurance.