Case 1: KIWICO Co. (questions 1 - 5) KIWICO Co elects to depreciate all equipment on a straight line basis. The company reports on an annual bosts. There are 30 dous in each month. The fiscal year ends on the 31" of December Equipment On 01-01-2016, KIWICO Co, buys Equipment A for 661 000 and Equipment for 15 000. The recoverable value of Equipment A approximates the corruing amount at 31-12-2016 and 31-12-2017. On 31-12-2018 the accumulated depreciation of Equipment Als 24 300 and the recoverable value of the equipment is determined to be 49 000. The recoverable value of Equipment C approximates the corrying amount from 2016 to 2019. On 01-01-2020 when the accumulated depreciation of Equipment C is 6000 KIWICO Co sells Equipment for 10 100 cash On 01-04-2020 KIWICO Co. purchases Equipment B for 97 000 on account. The equipment is expected to have a 9-year life with a residual value of 11680. Land On 01-01-2020, KIWICO Co. purchases land for 1180 000. The company pays 10 000 to tear down a building on the land. Salvage is sold for 6500. Legal fees of 7300 are pold for title Investigation and making the purchase. KIWICO Co. also builds a private parking lot at a cost of 8 600. Calculate the value of the plot of land purchased on 01-01-2020 at recognition. malmulator Overview