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Book Value $256,000 Machine $970,000 Accum. Depreciation $714,000 Book Value $256,000 Depreciation is computed at $71,400 per year on a straight line basis. On August

Book Value $256,000

Machine $970,000

Accum. Depreciation $714,000

Book Value $256,000

Depreciation is computed at $71,400 per year on a straight line basis.

image text in transcribed

On August 31,2018 , the company donated this machine to the Royal Palm Beach City Council. The fair value of the machine at the time of the donation was estimated to be $623,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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