You purchased a new molding machine for $155,000 by trading in a similar machine that had a
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You purchased a new molding machine for $155,000 by trading in a similar machine that had a book value of $18,000. Assuming that the trade‐in allowance was $20,000 and that $85,000 cash was paid for the new asset, what is the cost basis of the new molding machine for depreciation purposes?
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Tradein allowance Old molding machine Book value 18000 ...View the full answer
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Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
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