Johnson Industries purchased a metal-working lathe for $36,000. This item will be used for business 90% of the time. Accountants elected to take a $15,000 section 179 deduction and utilize the special depreciation allowance of 50%. Prepare a depreciation schedule (in $) using MACRS. Round all dollar amounts to the nearest cent. Johnson Industries MACRS Depreciation Schedule-Metal-working Lathe End of Year Basis for Depreciation Recovery Percent MACRS Depreciation Deduction Accumulated Depreciation Book Value $4 33.33% 44.45% 14.81% || s 7.41% %3D

Johnson Industries purchased a metal-working lathe for $36,000. This item will be used for business 90% of the time. Accountants elected to take a $15,000 section 179 deduction and utilize the special depreciation allowance of 50%. Prepare a depreciation schedule (in $) using MACRS. Round all dollar amounts to the nearest cent. Johnson Industries MACRS Depreciation Schedule-Metal-working Lathe End of Year Basis for Depreciation Recovery Percent MACRS Depreciation Deduction Accumulated Depreciation Book Value $4 33.33% 44.45% 14.81% || s 7.41% %3D

Name: Johnson Industries purchased a metal-working lathe for $36,000. This
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Description: Johnson Industries purchased a metal-working lathe for $36,000. This item will be used for business 90% of the time. Accountants elected to take a $15,000 section 179deduction and utilize the special depreciation allowance of 50%.Prepare a depreciat

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 7E: Loban Company purchased four cars for 9,000 each and expects that they will be sold in 3 years for...

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