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Homework answers / question archive / On October 2, 2020, Regina acquired and placed into service 7-year business equipment costing $50,000
On October 2, 2020, Regina acquired and placed into service 7-year business equipment costing $50,000. No other acquisitions were made during the year. Regina does not apply Sec. 179 expensing or bonus depreciation. The depreciation for this year is
A) $0.
B) $1,785.
C) $5,000.
D) $7,140.
LABEL AND SHOW ALL WORK.
Answer
Correct answer is B) $1,785
Depreciation for year is charged from october 2 to 31 december
Depreciation=$50,000/7*3/12
Depreciation=$1,785
