1. Bonnie Jo used two assets during the current year. The first was computer equipment with an original basis of $35,000, 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 $44,000 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?

2. Kristine sold two assets on March 20th of the current year. The first was machinery with an original basis of $61,000, currently in the fourth year of depreciation, and under the half-year convention. The second was furniture with an original basis of $26,000 placed in service during the fourth quarter, currently in the third year of depreciation, and under the mid-quarter convention.

What is Kristine's depreciation expense for the current year, rounded to the nearest whole number?

Answer rating: 100% (QA)

1 10409 The depreciation expense for the current year is 1... View the full answer