1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
fgiga [73]
3 years ago
14

A metal fabrication company is buying a CNC machine for $600,000. After 20 years of use, the machine should have a salvage value

of $35,000.
Required:
a. Under 100% bonus depreciation, what depreciation can be claimed in year 1?
b. Under 100% bonus depreciation, what depreciation can be claimed in year 2?
Business
1 answer:
balandron [24]3 years ago
3 0

Answer:

100% Bonus Depreciation:

a. Year 1 = $565,000

b. Year 2 = $0

Explanation:

a) Data and Calculations:

Cost of CNC Machine = $600,000

Salvage value = $35,000

Depreciable amount = $565,000 ($600,000 - $35,000)

100% Bonus Depreciation:

Year 1 = $565,000

Year 2 = $0

b) The 100% bonus depreciation is not limited to the firm's taxable income. The firm can carry back loss arising from 100% bonus depreciation to previous year's income and also carry any unused loss forward to deduct against future income.

You might be interested in
The responsibility for evaluating new technologies, new ideas, and new capabilities and identifying those that are most relevant
Rasek [7]

The responsibility for evaluating new technologies, new ideas, and new capabilities and identifying those that are most relevant to the organization is typically assigned to the <u>Chief technology officer​ (CTO)</u>

<u></u>

<u></u>

The chief technology officer (CTO) is the highest technical leadership position within a company, leading the technical or engineering department. Create policies and procedures and use technology to improve our external customer-focused products and services.

The Chief Technology Officer (CTO) is the executive responsible for overseeing the entire IT department and integrating business needs and requirements into IT planning and operations. It's important to distinguish their role from that of the Chief Information Officer (CIO). The Chief Information Officer (CIO) role focuses on technology that internally guides an organization through the management of its infrastructure. The Chief Technology Officer has a job description focused on developing technologies for customer sales and the external growth of the company. The CTO and her CIO often combine their technical and engineering knowledge to work together for the benefit of the entire organization.

<u></u>

Learn more about the Chief technology office here brainly.com/question/17999351

#SPJ4

5 0
2 years ago
On July 31, Cynthia contributed land with a basis to her of $22,000 and a FMV of $30,000 to the Sterling Partnership in exchange
butalik [34]

Answer:

D

Explanation:

See attached file

8 0
3 years ago
What is the first step to making sure that the product ends up in the correct spot on the shelf?​
Misha Larkins [42]

Answer:

Know where the product belongs

Explanation:

It won't end up in the right spot if you don't know where it goes

4 0
3 years ago
Which is the most accurate definition of body language?
boyakko [2]

Answer:

b

Explanation:

b

4 0
3 years ago
Read 2 more answers
Mr. Green purchased a property with the provision in the sale agreement that the seller would provide him with a warranty deed.
natima [27]

Answer:

specific performance

Explanation:

  • Specific performance in relation to confidential information is commonly used as a prohibition relief
  • Specific performance is the equivalent compensation in contract law, under which a party issues orders requiring a party to perform a specific action, which is the execution of the contract.
  • It is usually available for sale under the Land Act, but is generally not available if the damage is an appropriate option.
  • If the seller fails to sell or the property is handed over to the seller, the buyer receives a specific performance under the provisions of the Specific Relief Act, 1963.
  • A similar right is available under the seller. The contract requires specific performance from the buyer.
3 0
3 years ago
Other questions:
  • Which best describes the benefits of renting a home?
    12·2 answers
  • In the expression of formulas, the products are obtained from the __________;and essence "change partners" – that is plus to ___
    6·1 answer
  • Jameson Corporation was organized on May 1. The following events occurred during the first month. Received $68,000 cash from the
    14·1 answer
  • A year after she assisted Thomas Engineering in making changes to an employee incentive plan, Kara, an OD consultant, is visitin
    11·1 answer
  • Alma is in the business of dairy farming. During the year, one of her barns was completely destroyed by fire. The adjusted basis
    5·1 answer
  • Development of financial institutions​
    7·1 answer
  • You make component X in-house at a cost of $16 per unit, which consists of $2 direct labor per unit, $7 direct materials per uni
    11·1 answer
  • It is argued that LIFO should not be allowed to compute net income because a. it does not match costs to revenues, especially wh
    12·1 answer
  • The Pirates of Penzance Company delivers goods to various areas around the world. The company has a great reputation for being p
    14·1 answer
  • a manufacturing operation consists of 10 operations; 5 of them are distinct machining operations and the other 5 are distinct as
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!