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Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) (The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Asset Office furniture Machinery Used delivery truck* Date Placed Cost in Service $ 150,000 02/03/2018 1,560,000 07/22/2018 40,000 08/17/2018 *Not considered a luxury automobile. During 2018, Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019: $ Asset Computers & info. system Luxury autot Assembly equipment Storage building Date Placed Cost in Service 400.000 03/31/2019 80,000 05/26/2019 1,200,000 08/15/2019 700,000 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part b b. Compute the maximum 2019 depreciation deductions, including $179 expense (ignoring bonus depreciation). MACRS Sec. 179 Description Cost Expense Current MACRS Depreciation Total Depreciation Deduction Basis $ 0 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals $ 0 $ 0 $ 0 $ 0 Required information Comprehensive Problem 10-76 (LO 10-1, LO 10-2, LO 10-3, LO 10-4, LO 10-5) (The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2018. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2018: Asset Office furniture Machinery Used delivery truck* Date Placed Cost in Service $ 150,000 02/03/2018 1,560,000 07/22/2018 40,000 08/17/2018 *Not considered a luxury automobile. During 2018, Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2019 to increase its production capacity. These are the assets acquired during 2019: $ Asset Computers & info. system Luxury autot Assembly equipment Storage building Date Placed Cost in Service 400.000 03/31/2019 80,000 05/26/2019 1,200,000 08/15/2019 700,000 11/13/2019 tUsed 100% for business purposes. Karane generated taxable income in 2019 of $1,732,500 for purposes of computing the $179 expense. (Use MACRS Table 1, Table 2, Table 3, Table 4, Table 5, and Exhibit 10-10.) (Leave no answer blank. Enter zero if applicable. Input all the values as positive numbers.) Comprehensive Problem 10-76 Part b b. Compute the maximum 2019 depreciation deductions, including $179 expense (ignoring bonus depreciation). MACRS Sec. 179 Description Cost Expense Current MACRS Depreciation Total Depreciation Deduction Basis $ 0 2018 Assets Office furniture Machinery Used delivery truck 2019 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building Totals $ 0 $ 0 $ 0 $ 0

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