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Author Question: Paul purchased a mobile home that originally cost 185,000 and has a salvage value of 42,000? What ... (Read 124 times)

jazziefee

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on: Jun 24, 2018
Paul purchased a mobile home that originally cost 185,000 and has a salvage value of 42,000? What depreciation class is used? Use the MACRS method.

Question 2

If the asset is bought during the year, depreciation is taken on the number of _________ remaining in that year. If the asset is purchased before the _________ of a month, the full month is taken. If it is purchased after the 15th, __________ depreciation for that month is taken.
 Fill in the blank(s) with correct word


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Tabitha_2016

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Reply #1 on: Jun 24, 2018
Answer to Question 1

27.5;
A residential property, such as mobile home, uses the 27.5-year class.

Answer to Question 2

months; 15th; no


jazziefee

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Reply 2 on: Jun 24, 2018
Wow, this really help

rleezy04

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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