Required information Problem 10-53 (LO 10-2, LO 10-3) [The following information applies to...
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Accounting
Required information
Problem 10-53 (LO 10-2, LO 10-3)
[The following information applies to the questions displayed below.]
Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore 179 expense and bonus depreciation for this problem): (Use MACRS Table 1 and Table 2.)
Date Placed
Original
Asset
in Service
Basis
Machinery
October 25
$
76,000
Computer equipment
February 3
14,500
Used delivery truck*
August 17
27,500
Furniture
April 22
157,500
*The delivery truck is not a luxury automobile.
Problem 10
a. What is the allowable MACRS depreciation on Evergreens property in the current year, assuming Evergreen does not elect $179 expense and elects out of bonus depreciation?
b. What is the allowable MACRS depreciation on Evergreens property in the current year if Evergreen does not elect out of bonus depreciation?
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