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Grey's Inc. decided to dispose of a piece of equipment and upgrade to a new model. They had purchased the old eva January 1 ,
Grey's Inc. decided to dispose of a piece of equipment and upgrade to a new model. They had purchased the old eva January 1 , 2 0 1 9 for $ 1 5 , 8 5 8 . There was no salvage / residual value and the useful life Grey's used was 6 years. Grey's depreciated the machinery using the Straight Line method. Grey's sold the equipment on June 3 0 , 2 0 2 3 to Tavon for $ 2 , 4 2 5 . If you find yourself getting stuck trying to complete this problem here is a link to a video of me solving a very similar problem. ( Ignore any part that refers to My Open Math as these problems are now being done in these Excel spreadsheets. ) Jale of Fixed A et in the middle of the vear ( Catch up Depreciation ) - Demo / Example - YouTube Video a ) Calculate the Book Value at the the time of sale: ( Round answers to the nearest cent. ) Book Value at the time of sale b ) Calculate Grey Inc. ' s gain or loss on the sale: ( Enter a loss
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