bonnie jo used two assets during the current year. the first was computer equipm

Question

bonnie jo used two assets during the current year. the first was computer equipment with an original basis of $15000, currently in the second year of depreciation, and under the half year convention. this asset was disposed of on october 1st of the current year. the second was furniture with an original basis of $24000 placed in service during the first quarter, currently in the forth year of depreciation, and under the mid quarter convention. what is bonni jo's depreciation expense for the current year, rounded to the nearest whole number? show your work.

Explanation / Answer

Depreciation expense for the current year = $15,000 × .32 × 1/2 year + $24,000 × .1093 Depreciation expense for the current year = $2400 + $2623 = $5023

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