Solve for the missing items, assuming straight-line depreciation is used: Machine A Machine B Machine C Cost
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Question:
Solve for the missing items, assuming straight-line depreciation is used:
Machine A | Machine B | Machine C | |
Cost | $170,000 | $80,000 | I |
Residual value | $10,000 | E | $20,000 |
Useful life (years) | 25 | F | 20 |
Depreciation rate | A | 25.0% | J |
Annual depreciation amount | B | $10,000 | $13,000 |
Number of years owned | 14 | 2.5 | K |
Accumulated depreciation at disposal date | C | G | L |
Proceeds of disposal | $95,000 | H | $220,000 |
Gain (loss) on disposal | D | $5,000 | $18,000 |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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