Please solve 1,2,3 based on the data given.As typical of a start-up business, PNW, LLC expects to generate a current year loss with regular deprecation. As such, PNW, LLC does not elect Section 179 depreciation and elects out of bonus depreciation. PNW, LLC qualifies for the half year convention.How much depreciation is reported by Philadelphia Region 3 on assets purchased from Magellanic Resources?How much depreciation is reported by Kansas City Region 7 on assets purchased from Magellanic Resources?What asset class life was used by Kansas City Region 7 on assets purchased from Magellanic Resources? SupplierPenguin Network Warehouses, LLC(All)MACRS Depreciation Year 1Emperor Office Furn..Gentoo RefrigerationRegional OfficeV Magellanic Resources$240,000$220,000$200,000$180,000$160,000$140,000V Keep Only O ExcludeRegional Office$120,000(All)Regional Office: Kansas CityRegion: 7AtlantaBostonMACRS Year 1:0.14290$100,000Purchase Amount: 1,097,148ChicagoTax Depreciation Year 1: $156,782DallasDenver$80,000V Kansas CityNew York CityV Philadelphia$60,000San FranciscoSeattle$40,000$20,000$0Kansas CityPhiladelphia整+ableauMACRS Tax Depreciation Year 1 SupplierPenguin Network Warehouses, LLC(All)MACRS Depreciation Year 1Emperor Office Furn..Gentoo RefrigerationRegional OfficeV Magellanic Resources$240,000$220,000$200,000$180,000V Keep Only O Exclude$160,000Regional Office: PhiladelphiaRegion: 3MACRS Year 1:0.20000Purchase Amount: 1,152,863Tax Depreciation Year 1: $230,573$140,000Regional Office$120,000(All)AtlantaBoston$100,000ChicagoDallasDenver$80,000M Kansas CityNew York CityV Philadelphia$60,000San Francisco| Seattle$40,000$20,000$0Kansas CityPhiladelphia* + ableauMACRS Tax Depreciation Year 1

Depreciation is charged on the fixed assets due to their continuous use or due to wear and tear of…

Please solve 1,2,3 based on the data given. As typical of a start-up business, PNW, LLC expects to generate a current year loss with regular deprecation. As such, PNW, LLC does not elect Section 179 depreciation and elects out of bonus depreciation. PNW, LLC qualifies for the half year convention. How much depreciation is reported by Philadelphia Region 3 on assets purchased from Magellanic Resources? How much depreciation is reported by Kansas City Region 7 on assets purchased from Magellanic Resources? What asset class life was used by Kansas City Region 7 on assets purchased from Magellanic Resources?

Please solve 1,2,3 based on the data given. As typical of a start-up business, PNW, LLC expects to generate a current year loss with regular deprecation. As such, PNW, LLC does not elect Section 179 depreciation and elects out of bonus depreciation. PNW, LLC qualifies for the half year convention. How much depreciation is reported by Philadelphia Region 3 on assets purchased from Magellanic Resources? How much depreciation is reported by Kansas City Region 7 on assets purchased from Magellanic Resources? What asset class life was used by Kansas City Region 7 on assets purchased from Magellanic Resources?

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 4.5C

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