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23 and 24 are part of the top paragraph. 25 is on its own. Please and thanks. On January 1, xxx1, the company purchased an
23 and 24 are part of the top paragraph. 25 is on its own. Please and thanks.
On January 1, xxx1, the company purchased an equipment for $150,000. The estimated salvage value is $15,000, and the estimated useful life is 8 years. The company estimated the equipment will produce 675,000 units. During the first year the equipment produced 70,000 units and during the second year produced 110,000. (4 points) 23. What is the depreciation amount of the equipment for the year xxx1 and year xxx2? You MUST show your calculations: (4 points) 24. What is the book value on January 1, XXX3? You MUST show your calculations: (4 points) 25. The company purchased land and equipment for a lump sum of $300,000. The appraisal indicates that the land is worth $175,000 and the building is worth $225,000. Due to the company acquired a group of assets for in a single transaction, what is the amount allocated (basket purchase allocation) for the land and for the building separately? Building - Land You MUST show your calculations: (Round nearest percentage)Step by Step Solution
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