The Gurudham Culural Centre (GCC), a not-for-profit organization reporting under ASNPO has a February 28, 2021 year-end.
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Question:
The Gurudham Culural Centre (GCC), a not-for-profit organization reporting under ASNPO has a February 28, 2021 year-end. On August 1, 2020, it received a donation of equipment with a fair value of $108,000. The equipment is estimated to have a useful life of 7 years, with a residual value estimated to be $14,000. What is the net book value at the end of the current fiscal year? options:
a) $100,167
b) $92,571
c) $94,571
d) $99,000
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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