ACCY 312 Problem Set #2 Spring 2020 DEPRECIATION EXERCISE Name: Recovery Life Prior Accumulated Depreciation Current Year Depreciation Method S/L S/L Asset Description Warehouse Warehouse land Apartment building Apartment land Warehouse improvements Office furniture Office furniture Office furniture Delivery truck New parking lot Computer equipment Office furniture New roof-Apartment Date of Purchase 7/15/08 7/15/08 9/13/09 9/13/09 2/5/11 4/17/15 9/12/16 2/9/16 8/17/17 6/19/17 3/4/19 11/9/19 6/30/19 Cost 470,000 45,000 375,000 35,000 49,500 23,000 6,000 3,000 33,500 65,000 2,700 25,000 45,000 S/L MACRS S/L S/L MACRS MACRS MACRS MACRS S/L Total From the information provided, calculate accumulated depreciation and the depreciation deduction for 2019. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased. ACCY 312 Problem Set #2 Spring 2020 DEPRECIATION EXERCISE Name: Recovery Life Prior Accumulated Depreciation Current Year Depreciation Method S/L S/L Asset Description Warehouse Warehouse land Apartment building Apartment land Warehouse improvements Office furniture Office furniture Office furniture Delivery truck New parking lot Computer equipment Office furniture New roof-Apartment Date of Purchase 7/15/08 7/15/08 9/13/09 9/13/09 2/5/11 4/17/15 9/12/16 2/9/16 8/17/17 6/19/17 3/4/19 11/9/19 6/30/19 Cost 470,000 45,000 375,000 35,000 49,500 23,000 6,000 3,000 33,500 65,000 2,700 25,000 45,000 S/L MACRS S/L S/L MACRS MACRS MACRS MACRS S/L Total From the information provided, calculate accumulated depreciation and the depreciation deduction for 2019. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased