Bonnie Jo Used Two Assets During the Current Year

question 51

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 1^st 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:

External Locus Of Control

The belief that one's life events are largely determined by forces outside one's control.

Conscientiousness

A personality trait characterized by organization, dependability, and a strong sense of duty.

General Adaptation Syndrome

A theoretical model describing the body's short-term and long-term reactions to stress, developed by Hans Selye.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, thirst, hunger, and other homeostatic systems.