On October 2, 2020, Regina acquired and placed into service 7-year business equipment costing $50,000

Accounting Nov 02, 2020

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.

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Expert Solution

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

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