Determine george cost recovery deduction

Assignment Help Accounting Basics
Reference no: EM13142530

George purchases used office furniture (seven-year class property) at a cost of $50,000 on April 20, 2009. Determine George's cost recovery deduction for 2009 for alternative minimum tax purposes, assuming George does not elect § 179 and the maximum cost recovery deduction is taken for regular income tax purposes.

A) $2,500.

B) $3,750.

C) $5,355.

D) $6,212.

E) None of the above.

Reference no: EM13142530

Questions Cloud

What is the molarity of a solution : What is the molarity of a solution produced by dissolving 31 g of Cu(NO3)2 in a 100 mL volumetric flask?(Enter unit as M.)
Reclassification adjustment affects other comprehensive : If an available-for-sale investment is sold for which there are unrealized gains in accumulated other comprehensive income (AOCI), a reclassification adjustment affects other comprehensive income (OCI) in the period of sale by
What fraction of offspring is expected to be golden : In Labrador retrievers, coat color can be golden, black or chocolate. Golden animals result from recessive epistasis, and have an e/e genotype.
Find planning value for the population standard deviation : Assume that a 95% confidence interval estimate of the population mean annual starting salary is required. What is the planning value for the population standard deviation?
Determine george cost recovery deduction : George purchases used office furniture (seven-year class property) at a cost of $50,000 on April 20, 2009. Determine George's cost recovery deduction for 2009 for alternative minimum tax purposes, assuming George does not elect § 179 and the maxim..
How many individuals participated in entire research study : A researcher conducts an independent measures research study and obtains t= 2.070 with df= 28. How many individuals participated in the entire research study?
Find an instance of ecological mess : Find an instance of ecological mess that has taken place in Ontario. Outline the history of the problem, what caused it, what is being done to resolve it. What could have been done differently.
Adequacy of allowance for uncollectible accounts : In determining the adequacy of the allowance for uncollectible accounts, the least reliance should be placed upon which of the following.
Find examples of countries for each model : Find examples of countries for each model (rapid, slow, zero). Use examples using evidence in support. What problems, challenges . opportunites exist in the next 10-20 years as a result of their particular class of growth?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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