What depreciation class is used for the purchase of a barge? Use the MACRS ...

What depreciation class is used for the purchase of a barge? Use the MACRS method.

Q. 2

Dawn bought a van at the beginning of the year for 24,000. The van has an estimated life of 8 years and a salvage value of 5,500 at the end of the 8-year period. What is the depreciation using the straight-line method?

Q. 3

The original cost of a Jeep was 35,000 with an estimated life of 5 years. What is the end-of-year book value?

Q. 4

Paul purchased a mobile home that originally cost 185,000 and has a salvage value of 42,000? What depreciation class is used? Use the MACRS method.

Q. 5

If the asset is bought during the year, depreciation is taken on the number of _________ remaining in that year. If the asset is purchased before the _________ of a month, the full month is taken. If it is purchased after the 15th, __________ depreciation for that month is taken.
 Fill in the blank(s) with correct word