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need help on the question (c) , the answer i wrote down for (c) is wrong. i will thumb up if correct Culver Corporation purchased
need help on the question (c) , the answer i wrote down for (c) is wrong. i will thumb up if correct
Culver Corporation purchased a boardroom table for $23,000. The company planned to keep it for four years, after which it was expected to be sold for $1,000. (a) Calculate the depreciation expense for each of the first three years under (1) the straight-line method, and (2) the doublediminishing-balance method, assuming the company purchased the table early in the first month of the first year. (1) Straight-line method. Year 1 Year 2 Year 3 (2) Double-diminishing-balance method. Year 1 Year 2 Year 3 eTextbook and Media Attempts un (b) Your answer is correct. Assuming Culver sold the table for $8,100 at the end of the third year, calculate the gain or loss on disposal under each depreciation method. Assuming Culver sold the table for $8,100 at the end of the third year, calculate the gain or loss on disposal under each depreciation method. Straight-line method Double-diminishing-balance method 5 eTextbook and Media Attempts: unlimited Determine the impact on net income (total depreciation of the table plus any loss on disposal or less any gain on disposal) of each methad over the entire three-year period. Straight-line method Double-diminishing-balance method Determine the impact on net income (total depreciation of the table plus any losson disposal or less any gain on disposal) of each method over the entire three-year period. Straight-line method Double-diminishing-balance method Step by Step Solution
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