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[answered] ACC 5170/7120 DEPRECIATION ASSIGNMENT FALL 2016 Polo Produc


I need this done within the next 4 hours, the assignment requires using excel to create a depreciation schedule using?MACRS and claiming bonus depreciation on the computer equipment, and the New Machinery's date is October 15, Year 1.?
ACC 5170/7120

 

DEPRECIATION ASSIGNMENT

 

FALL 2016

 

Polo Products manufactures truck and bus components. In year 1 it acquires

 

and puts into service the following:

 

ASSET DATE COST Used Press

 

Special Tools

 

(new)

 

Computer Equipment (new)

 

New Machinery Feb. 15

 

Feb. 15

 

July 1

 

July 1 $400,000

 

$275,000

 

$600,000

 

$925,000 You may find the following information helpful:

 

DESCRIPTION CLASS LIFE Equipment ? Manufacture of Motor Vehicles

 

12

 

Special Tooling ? Manufacture of Motor Vehicles 3

 

Computer Hardware

 

6 GDS

 

12 ADS

 

7 3

 

5 3

 

5 Determine each asset's entire depreciation schedule using:

 

1. MACRS and claiming bonus depreciation on the computer equipment, and

 

the New Machinery's date is October 15, Year 1.

 

For purposes of this assignment assume 2015 is year 1. For the assignment,

 

do not worry about actual calendar years, just identify year 1, year 2, etc.

 

While not required, use of Excel or other spreadsheet software is

 

recommended for this assignment.

 


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