Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you are going to have to make a depreciation sched

You are going to have to make a depreciation schedule to be used for tax...

50.1K

Verified Solution

Question

Accounting

You are going to have to make a depreciation schedule to be used for tax purposes for the following description: A company purchased a non-real estate asset with a 15 year IRS recovery period. The asset cost $1,396,000 in September 2016 and placed it in service. The total amount of MACRS properties the company placed in service during the last three months of 2016 were 20% of the total amount of all MACRS properties the company placed in service during 2016. What is the second year book value? (Answer with an integer; Round to the nearest integer)

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

Q

A firefighter carries a hose up a ladder to a height of 10.0 m, so that...

Physics
Q

Case Vignette: Which Trauma based disorder (Posttramatic stress disorder (PTSD), Acute stres disorder (ASD) or adjusment disorder...

Psychology
Q

Macmillan Learning The graph shows the hormone binding specificity of a hypothetical membrane receptor The...

Biology
Q

Two identical conducting spheres are charged by induction and then separated by a large distance...

Physics
Q

Given the following demand data compute a simple exponential smoothing forecast for alpha values of...

Basic Math
Q

7 Find g t for the function g t

Calculus
Q

Unlike trading securities, available-for-sale securities require end of period adjustments to fair value. Select one:...

Accounting
Q

Problem 3: Issuance of shares, Subscription Defaults and Treorizy baie On January 5,20x1, Gallardo Corp...

Accounting
Q

In its first year of operations, Novak Corp. had the following transactions pertaining to its...

Accounting
Q

ned

Accounting
Q

Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue...

Accounting
Q

The current yield on a bond is equal to Multiple Choice annual interest...

Finance