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BartSMP [9]
3 years ago
12

Chahana acquired and placed in service $1,185,000 of equipment on August 1, 2019 for use in her sole proprietorship. The equipme

nt is 5-year recovery property. No other acquisitions are made during the year. Chahana elects to expense the maximum amount under Sec. 179, and bonus depreciation is not applied. Chahana's total deductions for 2019 (including Sec. 179 and depreciation) are:___________.
A) $1,020,000.
B) $237,000.
C) $1.185,000.
D) $1,053,000
Business
1 answer:
algol [13]3 years ago
7 0

Answer:

D) $1,053,000

Explanation:

Calculation to determine what Chahana's total deductions for 2019 (including Sec. 179 and depreciation) are

Sec 179 immediate expensing $1,020,000

MACRS depreciation:

Add Basis for depreciation $33,000

[($1,185,000 - $1,020,000 Sec. 179) × .20]

Total depreciation $1,053,000

($1,020,000+$33,000)

Therefore Chahana's total deductions for 2019 (including Sec. 179 and depreciation) are:$1,053,000

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What is the one thing that is both a strength and a weakness for the rail industry?
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Answer:

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Answer:

a. retained earnings statement, as a $630,000 addition to the beginning balance

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Data provided in the question

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(100 POINTS ANd BRAINLYEST)<br> Question 4 Only
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Explanation:

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