Business, 17.07.2020 18:01 Ackussinglake63

Ethan's Eggroll House, a calendar year corporation, purchased a new computer and printer in January for $1,500. In February, the business purchased a new oven for $1,200. No other assets were purchased during the year. How much depreciation will be taken on these items in the second year of service if the taxpayer does NOT elect to use Section 179 and does NOT use bonus depreciation

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Answer from: makennahudson94

depreciation for year 2 = $773.88

Explanation:

the MACRS depreciation schedule for computer equipment is:

5 year class life (half year convention)

year depreciation % assets' cost depreciation expense

1 20% $1,500 $300

2 32% $1,500 $480

3 19.20% $1,500 $288

4 11.52% $1,500 $172.80

5 11.52% $1,500 $172.80

6 5.76% $1,500 $86.40

the MACRS depreciation schedule for an oven is:

7 year class life (half year convention)

year depreciation % assets' cost depreciation expense

1 14.29% $1,200 $171.48

2 24.49% $1,200 $293.88

3 17.49% $1,200 $209.88

4 12.49% $1,200 $149.880

5 8.93% $1,200 $107.16

6 8.92% $1,200 $107.04

7 8.93% $1,200 $107.16

8 4.46% $1,200 $53.52

depreciation for year 2 = $480 + $293.88 = $773.88

Answer from: Quest

Z-gadgets has developed a mini-laptop that will be marketed in developing countries. it is estimated that the requirement for the new product will start out slow and accelerate as the product becomes increasingly familiar to worldwide consumers. to begin to staff the new production facilities, the company should conduct a(n): demand forecast

Answer from: Quest

Answer50% percent;

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