Debbie acquired computer equipment for her business on june

Assignment Help Accounting Basics
Reference no: EM13603905

Debbie acquired computer equipment for her business on June 15, 2009, for $32000. In 2009, Debbie claimed a regular MACRS depreciation deduction and she elected not to claim any bonus depreciation or Section 179 depreciation. However, Debbie decided not to claim any depreciation deductions on her tax returns in 2010, 2011 or 2012. The machine is sold on June 30, 2012. What is the adjusted basis of the machine on the sale date? Round all numbers to the nearest dollar.

Reference no: EM13603905

Questions Cloud

Deschambault inc is working on its cash budget for december : deschambault inc. is working on its cash budget for december. the budgeted beginning cash balance is 14000. budgeted
A single branch closed tube reads 35 cm connected to point : a u manometer reads 20 cm air as operating fluid and a given manometric fluid. a single branch closed tube reads 35 cm
Instead of rolling a die 100 times use statcrunch to : instead of rolling a die 100 times use statcrunch to simulate 100 rolls of a die. use statcrunch to create a random
If upon initial null balance r3 is 1275 ohms and if when r2 : a simple wheatstone bridge as shown in fig. 7.10 is used to determine accurately the value of an unknown resistance r1
Debbie acquired computer equipment for her business on june : debbie acquired computer equipment for her business on june 15 2009 for 32000. in 2009 debbie claimed a regular macrs
Two coupled boxcars are rolling along at 35 ms when they : two coupled boxcars are rolling along at 3.5 ms when they collide with and couple to a third stationary boxcar. a what
For 2010 omaha mechanical has a monthly overhead cost : for 2010 omaha mechanical has a monthly overhead cost formula of 42900 6 per direct labor hour. the firms 2010
Assuming the center-to-center distance of two atoms not : under a stress of 1105 mpa a sample of ag has a modulus of elasticity of 580 gpa. assuming the center-to-center
A 53 kg sprinter starting from rest runs 55 m in 76 s at : a 53 kg sprinter starting from rest runs 55 m in 7.6 s at constant acceleration. what is the magnitude of the

Reviews

Write a Review

Accounting Basics Questions & Answers

  Depreciation by the straight-line method

On January 1, Year 1, JIM Company purchased a machine for $550,000. It had a useful life of 10 years and no salvage value. The machine was depreciated by the straight-line method.

  Determining materials price variance

Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at ..

  Ignore income taxes in this problem axillar beauty products

ignore income taxes in this problem. axillar beauty products corporation is considering the production of a new

  By how much will the price of wheat rise

Drought in many wheat growing areas cut the quantity suppliedof wheat in 2002 by 2 %. By how much will the price of wheat rise?

  O august 1 2013 hullie amp oates issued a 9-month note

prepare in journal entry form the adjusting journal entries for the following items. on june 1 2013 a 36-month

  Lyons company deducts depreciation expense of 150000 for

lyons company deducts depreciation expense of 150000 for tax purposes in 2010 but the expense is not yet recognized for

  Computing annuity payment

Gary Whitmore is a high school sophomore. He currently has $7,500 in a money market account paying 5.65 percent annually. He plans to use this and his savings over the next four years to buy a car at the end of his sophomore year in college.

  Consider a multiple-choice examination with 50 questions

consider a multiple-choice examination with 50 questions. each question has four possible answers. assume that a

  Ramifications of raising taxes for wealthy

What are your thoughts on the three proposals outlined above, and please feel free to suggest anything that you feel should also be considered in reducing the deficit.

  Chip and dale agree to form a partnership chip is to

chip and dale agree to form a partnership. chip is to contribute 50000 in assets and devote 12 time to the partnership.

  Determine the intrinsic mva of division

Given growth rate of 5%, determine the intrinsic MVA of each division. What is the intrinsic MVA of each division if growth is instead 6%?

  Farley corporation payout ratio

Farley Corporation's common stockholders' equity at the beginning and end of 2007 was $450,000 and $550,000, respectively. Farley Corporation's payout ratio for 2007 is ??

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd