Maximum depreciation expense problem

Reference no: EM13134899

Litman LLC placed in service on July 29, 2009 machinery and equipment (7 year property) with a basis of $400,000. Litmans income for the current year before expensing was $100,000. Calculate the maximum depreciation expense including section 179 (but ignoring bonus expensing).

A) 0

B) $57160

C) $142870

D) $271435

E) None of the above

Reference no: EM13134899

Questions Cloud

Probability that among selected graduate finds jobs : Find the probability that among 8 randomly selected graduates, at least one finds a job in his or her chosen field within a year of graduating.

Accounting for business activities : Which of the following is a true statement about accounting for business activities?

Calculate the concentration of ammonium ions : A solution is prepared by dissolving 14.4 g ammonium sulfate in enough water to make 100.0 mL of stock solution. A 11.50 mL sample of this stock solution is added to 55.00 mL of water.

Identify the internal control reporting options : Use this Appendix to help guide you on what I expect to see from your assignment. The best way to tackle this assignment is to choose one specific area in accounting to focus on. Example: Payroll.

Maximum depreciation expense problem : Litman LLC placed in service on July 29, 2009 machinery and equipment (7 year property) with a basis of $400,000. Litmans income for the current year before expensing was $100,000. Calculate the maximum depreciation expense including section 179 (..

Test hypothesis about the coefficients using alpha : Given that R2 = 0.31, complete the ANOVA table. State conclusion about the regression relationship. Testing Hypothesis about the coefficients b3, b4, using alpha = 0.05.

How many moles of oxygen were in the sample : An unknown compound contains only carbon, hydrogen, and oxygen(CxHyOz). Combustion of 5.50g of this compound produced 8.07g of carbon dioxide and 3.30g of water.

Find probability student will be accepted into college : If a simple random sample of 80 seniors is taken, what is the probability that at most 64 of them will be accepted into college.

What is the heat capacity of the bomb calorimeter : A 1.630 g sample of naphthalene, C10H8(s), is completely burned in a bomb calorimeter assembly and a temperature increase of 8.44°C is noted.

User Account

All Pages