09 May Question50. Deirdre’s business purchased two assets during the current year. It placed in service computer equipment
Question
50. Deirdre’s business purchased two assets during the current year. It placed in service computer equipment
(5-year property) on January 20 with a basis of $15,000 and machinery (7-year property) on October
1 with a basis of $15,000. Calculate the maximum depreciation expense, rounded to a whole number
(ignoring section 179 and bonus expensing):
A. $1,286
B. $5,144
C. $5,786
D. $6,000
E. None of the above
51. Suvi, Inc. purchased two assets during the current year. It placed in service computer equipment (5-year
property) on August 10 with a basis of $20,000 and machinery (7-year property) on November 18 with
a basis of $10,000. Calculate the maximum depreciation expense, rounded to a whole number (ignoring
section 179 and bonus expensing):
A. $857
B. $3,357
C. $5,429
D. $6,000
E. None of the above
52. Wheeler LLC purchased two assets during the current year. It placed in service computer equipment (5-
year property) on November 16 with a basis of $15,000 and furniture (7-year property) on April 20 with
a basis of $11,000. Calculate the maximum depreciation expense, rounding to a whole number (ignoring
section 179 and bonus expensing):
A. $1,285
B. $2,714
C. $4,572
D. $5,200
E. None of the above
53. Tasha LLC purchased furniture (7-year property) on April 20 with a basis of $20,000 and used the midquarter
convention. During the current year, which is the fourth year Tasha LLC owned the property, the
property was disposed of on December 15. Calculate the maximum depreciation expense, rounding to a
whole number:
A. $898
B. $2,095
C. $2,461
D. $2,394
E. None of the above
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