Question
A video-recording system was purchased 3 years ago at a cost of $39,000. A 5-year recovery period and DDB (Double DecliningBalance)depreciation have been used to
A video-recording system was purchased 3 years ago at a cost of $39,000. A 5-year recovery period and DDB (Double DecliningBalance)depreciation have been used to write off the basis. The system is to be replaced this year with a trade-in value of $3,500. What is the difference between the book value and the trade-in value?
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Financial accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
9th edition
978-0132751216, 132751127, 132751216, 978-0132751124
