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On November 30, 2013, FFC Fertilizer sells a machine that originally cost Rs. 800,000 for Rs. 120,000 cash. The machine was placed in service on
On November 30, 2013, FFC Fertilizer sells a machine that originally cost Rs. 800,000 for Rs. 120,000 cash. The machine was placed in service on April 25, 2008. It has been depreciated using the straight-line method with an estimated salvage value of Rs. 30,000 and an estimated useful life of 10 years. A. What will be the amount of depreciation to be recorded on November 30, 2013, to bring depreciation up to date? B. What will be the machines book value on November 30, 2013? C. Calculate the gain/loss resulted from the sale of machine.
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