Total cost recovery deduction problem

Reference no: EM13143849

Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost of $600,000. She made the § 179 election. The income from the business before the cost recovery deduction and the § 179 deduction was $500,000. Determine the total cost recovery deduction with respect to the asset for 2009.

1. $120,000

2. $433,750

3. $552,500

4. $600,000

5. None of the above.

Reference no: EM13143849

Questions Cloud

True percent of workers in city have full health insurance : A random sample of 900 workers in a particular city found 342 workers who had full health insurance coverage. Find a 95% confidence interval for the true percent of workers in this city who have full health insurance coverage.

What was balance in eve prepaid insurance : The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?

Define the complete combustion of acetylene : The air we breathe is approximetly 20% oxygen. the reaction for the complete combustion of acetylene is 2C2H2 + 5O2 ------> 4CO2+ 2H2o

Total cost recovery deduction problem : Augie purchased one new asset during the year (five-year property) on November 10, 2009, at a cost of $600,000. She made the § 179 election. The income from the business before the cost recovery deduction and the § 179 deduction was $500,000. Dete..

What amount does company record the building for : company buys building for $173,000 for propety tax purposes in exchange for 10,000 share of $4 par common stock, what amount does the company record the building for?

How many joules energy are necessary to boil the water : a sample of H2O with a mass of 46.0 grams has a temperture of 100 c. how many joules energy are necessary to boil the water

What balance in accounts receivable : During 20X3, Blue provided engineering services to Skyler and has not yet been paid for them. There were no other receivables or payables between Blue and Skyler at December 31, 20X3.

What would you do as controller for firm : Did the bookkeeper correctly record the client’s deposit? What would you do as controller for the firm? Do you have a responsibility to do anything to correct the books? Explain your answer.

User Account

All Pages