Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. brief exercise 11-11 vaughn corporation purchased

Brief Exercise 11-11 Vaughn Corporation purchased an asset at a cost of $45,000 on March...

90.2K

Verified Solution

Question

Accounting

image

Brief Exercise 11-11 Vaughn Corporation purchased an asset at a cost of $45,000 on March 1, 2017. The asset has a useful life of 8 years and a salvage value of $3,770. For tax purposes, the MACRS class life is 5 years. MACRS Depreciation Rates by Class of Property 7-year Recovery 3-year 5-year 10-year 15-year 20-year 3.750 7.219 6.677 Year (200% DB)__(200% DB)(200D)(200% DB)(1509% DB)(150% DB) 33.33 44.45 14.81* 7.41 5.00 9.50 8.55 7.70 6.93 6.23 5.90* 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20.00 32.00 19.20 11.52* 11.52 5.76 14.29 24.29 17.49 12.49 10.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 5.713 5.285 4.888 4.522 4.462* 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 8.93* 8.92 8.93 4.46 10 12 13 15 16 17 18 19 21 Switchover to straight-line depreciation. Compute tax depreciation for each year 2017-2022. (Round answers to 0 decimal places, e.g. 45,892.) Tax depreciation for 2017 s Tax depreciation for 2018 s Tax depreciation for 2019 s Tax depreciation for 2020 Tax depreciation for 2021 s Tax depreciation for 2022 s

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

The total value of your portfolio is $10,000: $3,000 of it is invested in Stock A...

General Management
1.2K views

Eight Ways to Build Effective Teams Match each name with their scenario to one of the...

Physics
1.2K views

Galvanometer G having full scale deflection current and resistance R is used in combination with...

Physics
1.2K views

51 If and be the wavelength of first Balmer line of deuterium and hydrogen respectively...

Basic Math
1.2K views

Students sold candy bars for a dollar each as a school fundraiser The amounts in...

Basic Math
1.2K views

Let u 7i 4j v 9i j and w 6i Find 2u 3v w

Statistics
1.2K views

Suppose you roll a special 26 sided die What is the probability that the number...

Calculus
1.2K views

In this problem you will calculate the area between f x 3r and the z...

Calculus
1.2K views

Sketch the region enclosed by the given curves Decide whether to integrate with respect to...

Algebra
1.2K views

ssessment 5 2 Solve the system by substitution Check your solution 1 x 5 y...

Accounting
1.2K views

Una empresa tiene un inventario inicial de $20,000 y compras durante el ao...

Accounting
1.2K views

Agri purchased a vineyard in April 2019 for $1,250,000. The purchase was risky because the...