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SIZIF [17.4K]
3 years ago
15

Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during

law school (several years ago) that she is planning to use in her business. FMV at Time Purchase Converted to Asset Price Business Use Computer $ 5,500 $ 3,800 Printer 3,300 3,150 Desk 4,200 4,000 File cabinet 3,200 3,225 Using the above information, what is the depreciable basis that Brittany should use in her business for each asset?
Business
1 answer:
yKpoI14uk [10]3 years ago
8 0

Answer:

Computer; $ 3800

Printer; $3150

Desk; $4000

File Cabinet; $3200

Explanation:

First we need to determine how to determine the depreciable basis for the asset.

The basis of assets converted from personal use to business use in terms of depreciable amount is the lesser of (1) fair market value on date of conversion or (2) basis on the date of conversion (the cost price)

Now we apply this to the following assets

Computer: Depreciable base of $ 3800 ( FMV < Purchase price )

Printer: $3150 ( FMV < Purchase price )

Desk: $4000 ( FMV < Purchase price )

File Cabinet: $3200 ( FMV > Purchase price )

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When the Fed buys bonds the supply of money decreases and so aggregate demand shifts left. the supply of money decreases and so
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Which programs carry out repetitive tasks and can be programmed to make decisions based on specified conditions
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3 years ago
In response to threats from such companies as Amazon, established manufacturers and retailers became "brick-and-click" oriented
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Answer:

Re-intermediation

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3 years ago
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The question is meant to compare the original ROI and RI before the investment compared to the new investment is ROI and RI

The new investment has a lower return on investment of 11% compared to original 14%

However,the project should be considered since it has $3000 residual income in additional to the original residual income

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The return on investment and residual income before the new investment are computed thus:

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