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Give answer of all parts. Allarco Inc. was preparing the annual financial statements and, as part of the year-end procedures, assessed the assets and prepared
Give answer of all parts.
Allarco Inc. was preparing the annual financial statements and, as part of the year-end procedures, assessed the assets and prepared the following alphabetized schedule based on adjusted values at December 31, 2015: Date of Deprec Residual Accum. Recoverable Purchase Method* Cost Value Useful Life Deprec. Amount Equipment Apr. 1/10 Units $35,000 $5,000 10,000 units $7,500 $20,000 7,051 6,000 N/A 102,000 22,400 56,000 25,600 70,000 Asset Furniture Jun. 27/10 DDB Land Office building Sep. 2/10 SL Warehouse Sep. 4/10 SL 10,000 1,000 10 yrs 86,000 76,800 18,000 14 yrs 94,400 8,000 18 yrs Feb. 3/10 NIA N/A N/A DDB Double-declining balance; SL-Straight-ine; Units-Units-of-production N/A Not applicableStep by Step Solution
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