Question

Barbara's Bakery purchased three new 7-year assets during the current year. She chose NOT to use Section 179 immediate expensing or take bonus depreciation. The furnishings were purchased for $15,000 in April, the equipment for $6,000 in July, and the appliances for $40,000 in November. What amount of depreciation expense is allowable in the current year

Answer 1

I think it is 4748. If it asks second year, it will be 16072.

Step-by-step explanation:

Furnishings...in April, second quarter:

15,000x17.85%=2677.5

Equipment...in July, third quarter:

6,000x10.71%=642.6

Appliances...in November, fourth quarter

40,000x3.57%=1428

Total: 2677.5+642.6+1428=4748

Answer 2

Depreciation in Current year is $14,939

Step-by-step explanation: