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?
Find 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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which of the following might be true for you as a first-time home buyer?
Answers (1)
The strategies used to promote generalization will also make skill maintenance more likely to occur. True / False.
Answers (1)
Trade between which of the following two countries would face the least business restrictions? A. Trade between Canada and the United States B. Trade between two EU countries C. Trade between Canada and Mexico D. Trade between China and Kazakhstan
Answers (1)
The well derrick has 5.5 percent preferred stock outstanding that sells for $48 a share. this stock was originally issued at $45 per share. what is the cost of preferred stock if the firm's tax rate is 35 percent?
Answers (1)
What happens to price and quantity when supply or damand shift
Answers (1)
New Questions in Business
In which year were tobacco commercials banned from network television in the united states?
No Answers
Maggie's manager notices that she exhibits an external locus of control when she speaks about her work. Her manager should Group of answer choices a. direct Maggie toward a job with more autonomy. b.
Answers (1)
Consider this argument: "The kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. If the SWAT team assaults the farmhouse, the hostages could be killed.
Answers (1)
Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.
Answers (1)
An Insurance company is a business in which it pays to the company if there is a loss, damage, treatments or injury for the payment of premium amount. It calculates the risks that has occurred and pays to compensate the premium amount.
Answers (1)