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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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