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On January 5, 2018 Calvin's Cropcrushers, Inc. purchased crop crushing equipment for which the following information is available: Original cost.................. $3,800,000 Estimated residual value....... $200,000
On January 5, 2018 Calvin's Cropcrushers, Inc. purchased crop | ||||||
crushing equipment for which the following information is available: | ||||||
Original cost.................. | $3,800,000 | |||||
Estimated residual value....... | $200,000 | |||||
Useful life in years........... | 10 | years | ||||
Useful life expressed in operating hours | 20,000 | hours | ||||
| ||||||
8 | The SECOND year (2019) depreciation if double declining balance is used. | |||||
9 | The accumulated depreciation at December 31, 2019 (end of | |||||
second year) if double declining balance (DDB) is used. | ||||||
10 | The book value of the equipment on December 31, 2019 | |||||
assuming double declining balance is employed. | ||||||
11 | The depreciation for year 2020 assuming the equipment is sold | |||||
on Oct. 31, 2020 and double declining balance is used. | ||||||
12 | The gain or loss (INDICATE WHICH) which would result if the equip. | |||||
is sold for | 2,136,667 | on October 31, 2020 and DDB is used. | ||||
13 | The SECOND year (2019) depreciation if sum of the years digits is used |
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