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Accounting

Problem:

In August of 2011, David acquires and places in to service business equipment costing $550,000. The equipment is classified as 5-year recovery property. No other acquisitions are made during the year. The property is not eligible for bonus depreciation. David elects to expense the maximum amount under Sec. 179. David's total deductions for year (including Sec. 179 and depreciation) are?

$110,000
$125,000
$500,000
$510,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165022

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