Question

In 20X8, Tebow Athletic Shoe Company acquired the following assets and immediately placed them into service.
1. Special tools (a 3-year-MACRS asset) that cost $55,000 on February 1.
2. A desktop computer that cost $3,500 on December 15.
3. Special calibration equipment that was used in running-shoe research and cost $16,000 on July 7.
4. A set of file cabinets that cost $9,500, purchased on March 1.
Compute the depreciation for tax purposes, under the prescribed MACRS method, in 20X8 and 20X9. Round amounts to the nearest whole dollar.



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  • CreatedNovember 19, 2014
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