Repeat the requirements in E11 13 assuming that Kurtis Koal Company, Inc is an IFRS reporter and the mining machine has two components casing and engine $ 800,000 is allocated to the engine, which has a six year useful life and $ 60,000 salvage value $ 100,000 is allocated to the casing, which has a 10 year useful life and no salvage value The straight line method is used In Exercise Year Tons of Coal 1 700,000 2 1,400,000 3 1,600,000 4 1,000,000 5 750,000 6 550,000 Required a Prepare the depreciation schedule for the machine b Kurtis Koal sells the mining machine for $ 450,000 at the end of year 3 What is the gain or loss on the sale

Question: Repeat the requirements in E11- 13 assuming that Kurtis Koal Company, Inc. is an IFRS reporter and the mining machine has two components: casing and

Repeat the requirements in E11- 13 assuming that Kurtis Koal Company, Inc. is an IFRS reporter and the mining machine has two components: casing and engine. $ 800,000 is allocated to the engine, which has a six- year useful life and $ 60,000 . $ 100,000 is allocated to the casing, which has a 10- year useful life and no . The straight- line method is used.
In Exercise
Year Tons of Coal
1 …………………. 700,000
2 …………………. 1,400,000
3 …………………. 1,600,000
4 …………………. 1,000,000
5 …………………. 750,000
6 …………………. 550,000
Required
a. Prepare the depreciation schedule for the machine.
b. Kurtis Koal sells the mining machine for $ 450,000 at the end of year 3. What is the gain or loss on the sale?

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