Solution-What macrs convention applies to the new car

What macrs convention applies to the new car

Reference no: EM132462158

On June 5, 2018, Leo purchased and placed in service a new car that cost $75,000. The business use percentage for the car is always 100%. Leo does not claim any available additional first-year depreciation or any § 179.

If required, round your answers to the nearest dollar.

Question a. What MACRS convention applies to the new car?

Question b. Is the automobile considered "listed property"?

Question c. Leo's cost recovery deduction in 2018 is $ and for 2019 is $.

Reference no: EM132462158

Questions Cloud

What is one learning objective that you understood better : When you started the course you may have known some basic principles but now you have a solid foundation to tackle many different problems.

Create a list of differential diagnoses and explain them : Create a list of three differential diagnoses and explain why you would include them on your list, based on the following information: Sheila Jones, a 28-year.

Discuss strategies that help a researcher manage the data : Qualitative data has been described as voluminous and sometimes overwhelming to the researcher. Discuss two strategies that would help a researcher manage.

Describe joint commission 2017 national patient safety goals : A nurse manager is reviewing occurrence reports of medical errors over the last six months. The nurse manager knows that medical errors are not the only.

What macrs convention applies to the new car : What MACRS convention applies to the new car?Is the automobile considered "listed property"?Leo's cost recovery deduction in 2018 is $ and for 2019 is $.

Describe why you were to chose a specific method : Describe why you were to chose a specific method to select a sample over other method. Defend the method you preferred. The subject on second previous homework.

List lipton journal entries to record : List Lipton journal entries to record these transactions using the cost method,Lipton Corporation has outstanding 22,000 shares of $5 par value common stock.

How does psychotherapy achieve the changes : Many studies have found that psychotherapy is as effective as psychopharmacology in terms of influencing changes in behaviors, symptoms of anxiety, and changes.

What corrective actions can be suggested : With respect to each deficiency, can any material errors occur?; if so, what is the nature of the errors; if not, why?. For each deficiency

User Account

All Pages

What macrs convention applies to the new car

Reference no: EM132462158

Reference no: EM132462158

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT