Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business.
FMV at Time
Asset Purchase Price Converted to Business Use
Computer $6,100 $4,400
Printer 3,900 3,750
Desk 4,800 4,600
File cabinet 3,800 3,825
Required:
Using the above information, what is the depreciable basis that Brittany should use in her business for each asset?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school ...” 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
You Might be Interested in
In determining how to save money for a bride who is having financial problems, Cindy, the catering manager of Cater One, asked her assistant, "What do you think is the best menu to offer under these particular circumstances?
Answers (1)
What is the principal difference between less developed and more developed countries with regard to the percentages of primary, secondary, and tertiary sector workers?
Answers (1)
2. What are the advantages of utilizing a targeted marketing strategy?
Answers (1)
Trade diversion happens when ... Instead of importing from most efficient country, a Country import goods from nation within a Preferential Trade Agreement, with higher production costs Instead of importing from most efficient country within a
Answers (1)
Required information [The following information applies to the questions displayed below Kirkland Theater sells season tickets for six events at a price of $60. For the 2019 season, 3,370 season tickets were sold b-2.
Answers (1)
New Questions in Business
Lakeview school district, a governmental entity, received 10 computers from computer hut, a local computer firm. the computers were a donation to the district by computer hut. the cost to computer hut for each computer is $2,500.
Answers (1)
Given the acquisition cost of product z is $30, the net realizable value for product z is $27, the normal profit for product z is $1, and the market value (replacement cost) for product z is $24, what is the proper per unit inventory value for
Answers (1)
Describe the significant developments of specialization and trade in the mesopotamian economy.
Answers (1)
Shown below are selected data from the financial statements of the Supreme Company. (Dollar amounts are in millions, except for the per share data).
Answers (1)
List three staple goods you or your household buy on a regular basis
Answers (1)