From the Internet, choose your own public corp. Using total assets as your cost, assume 15% salvage value, 7yr estimated useffil life, and assume the
From the Internet, choose your own public corp. Using total assets as your cost, assume 15% salvage value, 7yr estimated useffil life, and assume the asset was purchased on May Pt 2019 (assume cos year-end is D~3fl -___ ___________________ _______ 1. For 2010 and 2020 only: Calculate Depreciation Exp using Straight Line, Double Declining Balance and Sum of the Years Digits 2. For all 3 of the depreciation methods above, show the Net Book Value at 12/31/20 3. Using Straight Line Deprec, assume the co sold this asset on June 30th of 2021 for 80% of the original cost: a. calculate any gain or loss on the sale b. make the entry to record the sale of the asset.
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