Ask Question
22 October, 00:19

Stanley purchases nonresidential real property costing $300,000 and places it in service in March 2018. What is Stanley's 2019 depreciation on the property? a. $6,099 b. $7,692 c. $11,538 d. $12,908

+1
Answers (1)
  1. 22 October, 02:47
    0
    b. $7,692

    Explanation:

    Given that the useful life of nonresidential real property is 39 years,

    Cost of property = $300,000

    Month of purchase = March 2018

    Depreciation for 2019 = Cost/Useful life

    = $300,000/39

    = $7,692.31

    ≈ $7,692

    The property will be depreciated for the 12 months in 2019 and the depreciation expense is $7,692. Option b.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Stanley purchases nonresidential real property costing $300,000 and places it in service in March 2018. What is Stanley's 2019 depreciation ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers