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FromTheMoon [43]
3 years ago
9

On june 1, 2017, james places in service a new automobile that cost $40,000. the car is used 60% for business and 40% for person

al use. (assume this percentage is maintained for the life of the car.) james does not take additional first-year depreciation. determine the cost recovery deduction for 2017.
Business
2 answers:
vova2212 [387]3 years ago
8 0
..,,......,,,.,,,..,.,,,,,,,.,m,,,,,,,,,,
Goshia [24]3 years ago
6 0
You should start with 100% if he is decreasing then subtract
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An investor holding a short position in a maturing futures contract may:
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Answer:

<em>Take delivery of the underlying asset from the holder of the long position. </em>

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Old Corp. (target) merges into New Corp (acquiring) in a statutory Type A merger. What will the basis in Old Corp.'s assets be i
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At December 31, 20X3, before recognizing any depreciation expense for 20X3, X Company has a machine with an original cost of $36
shutvik [7]

Answer:

If X Company uses the units of production method for calculating depreciation, depreciation expense in 20X3 will be (rounded):

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Cost                360000  

Accum. Depre 90000  

Usefull life         7  

   

Produce 1 20000  

Produce 2 10000  

Produce 3 50000  

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Deprec=cost/unit    

   

Depre=360000/80000    

Depre= 4,5  

   

Produce 2012  20000 4,5 90000

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Produce rest   50000 4,5 225000

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7 0
3 years ago
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