Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mackensie owns a condominium in the great smokey m

Mackensie owns a condominium in the Great Smokey Mountains. During the year, Mackensie uses the...

90.2K

Verified Solution

Question

Accounting

Mackensie owns a condominium in the Great Smokey Mountains. During the year, Mackensie uses the condo a total of 21 days. The condo is also rented to tourists for a total of 79 days and generates rental income of 12,500. Mackensie also incurs the following expenses:

Mortgage interest 4,100, property taxes 1,900, Utiites 2,200, insurance 1,200, depreciation 10,000

Using the IRS method allocating expenses, calculate the amount of depreciation that Mackensie may take with respect to the rental property.

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A florist can purchase a delivery truck from her local GM dealer for $25,000. The GM dealer...

Finance
Q

Design and submit a concept map on what you have learned. It should include concepts and...

Biology
Q

Describe 3 factors that contribute to a subtractive language context, language shift, and eventually language death....

Psychology
Q

Please answer the questions accurately and complete not short and not related to the topic. What kinds...

Psychology
Q

Which of the following dermatophytes may develop spiral hyphae shaped like a corkscrew that can...

Biology
Q

149 For a parallel beam of monochromatic light of wavelength A diffraction is produced by...

Physics
Q

1 point FORMULA FROM CUBIC GRAPH The figure shows the graph of a cubic polynomial...

Geometry
Q

Question 17 17 The right of free speech is essential for a democracy because without...

Basic Math
Q

Students were asked to prove the identity (sec x)(csc x) = cot x + tan...

Basic Math
Q

Let g(x)=6/?x. Determine the derivative of g. g'(x) =[ ].Determine the interval(s) on which g...

Calculus
Q

13 Solve for X x 3 2 X a x 1 b x 5 c...

Algebra
Q

Jasper Company has 58% of its sales on credit and 42% for cash. All credit...

Accounting