Table 1: Half-Year Convention 200% Declining Balance Year 3 Year 5 Year 7 Year 1 33.33% 20.00% 14.29% 2 44.45% 32.00% 24.49% 3 14.81% 19.20% 17.49% 4 7.41% 11.52% 12.49% 5 11.52% 8.93% 6 5.76% 8.92% 7 8.93% 8 4.46% Below are four asset purchases made in Asset Cost Date Office Table $1,000 January 1 Office Desk 1,500 September 29 File Cabinet 2,000 October 15 Computer 6,000 December 31 What is the maximum 2018 Sec. 179 deduction for these purchases? $10,500 $2,500 $8,000 $0

Table 1: Half-Year Convention 200% Declining Balance Year 3 Year 5 Year 7 Year 1 33.33% 20.00% 14.29% 2 44.45% 32.00% 24.49% 3 14.81% 19.20% 17.49% 4 7.41% 11.52% 12.49% 5 11.52% 8.93% 6 5.76% 8.92% 7 8.93% 8 4.46% Below are four asset purchases made in Asset Cost Date Office Table $1,000 January 1 Office Desk 1,500 September 29 File Cabinet 2,000 October 15 Computer 6,000 December 31 What is the maximum 2018 Sec. 179 deduction for these purchases? $10,500 $2,500 $8,000 $0

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.1EX: Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Bjorn for 85 during December...

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