Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need step by step solution Answers are: a)52479 loss w/ 50% final depreciation; b) 63 333 loss; c) 41 429 loss; d) 44 297 loss

Need step by step solutionimage text in transcribed

Answers are:

a)52479 loss w/ 50% final depreciation; b) 63 333 loss; c) 41 429 loss; d) 44 297 loss

Need step by step solution.

11-60 A belt-conveyor purchased for $140,000 has ship- ping and installation costs of $20,000. It was $25,000 after paying $5000 for dismantling. Instead, it lasted 4 years, and several workers were permitted to take it apart on their own time for reassembly at a private technical school. How much gain, loss, or recaptured depreciation is there? Assume (a) 7-year MACRS depreciation (c) Sum-of-years'-digits (SOYD) depreciation (d) 150% declining balance depreciation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Certificate Of Cloud Auditing Knowledge Study Guide

Authors: Isaca

1st Edition

1604208619, 978-1604208610

More Books

Students also viewed these Accounting questions

Question

What are the role of supervisors ?

Answered: 1 week ago

Question

Is there a clear hierarchy of points in my outline?

Answered: 1 week ago