Tan company acquires a new machine (10-year property) on january 15, 2019, at a cost of $200,000. tan also acquires another new machine (7-year property) on november 5, 2019, at a cost of $40,000. no election is made to use the straight-line method. the company does not make the § 179 election and elects to not take additional first-year depreciation. determine the total deductions in calculating taxable income related to the machines for 2019.

$132,858

Explanation:

New machine (ten-year property) on January 15, 2019:

Additional first-year depreciation =  200,000 × 50% half year convention

                                                       = $100,000

MACR depreciation = $100,000 × 10%                                                        

                                 = $10,000

New machine (ten-year property) on January 15, 2019:

=  Additional first-year depreciation + MACR depreciation

= $100,000  + $10,000

= $110,000

Another new machine (seven-year property) on November 5, 2019:

Additional first-year depreciation = $40,000 × 50% half year convention

                                                       = $20,000

MACR depreciation = [$20,000 × 14.29%]                                                      

                                 = $2,858

New machine (ten-year property) on November 5, 2019:

=  Additional first-year depreciation + MACR depreciation

= $20,000 + $2,858

= $22,858

Total deductions:

= New machine (ten-year property) on January 15, 2019 +  New machine (ten-year property) on November 5, 2019

= $110,000 +  $22,858

= $132,858

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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