ACC 307 help A Guide to career/Snaptutorial ACC 307 help A Guide to career/Snaptutorial | Page 13

13. James purchased a new business asset (three-year property) on
July 23, 2013, at a cost of $40,000. James takes additional first-year
depreciation. Determine the cost recovery deduction for 2013
14. Alice purchased office furniture on September 20, 2012, for
$100,000. On October 10, 2012, she purchased business computers
for $80,000. Alice placed all of the assets in service on January 15,
2013. Alice did not elect to expense any of the assets under § 179, nor
did she elect straight-line cost recovery. She did not take additional
first-year depreciation. Determine the cost recovery deduction for the
business assets for 2013.
15. Diane purchased a factory building on April 15, 1993, for
$5,000,000. She sells the factory building on February 2, 2013.
Determine the cost recovery deduction for the year of the sale.
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