Question
On September 20, 2023, Zcom Inc. purchased equipment and machinery for a total price of $500,000, paying cash of $80,000 and borrowing the balance from
On September 20, 2023, Zcom Inc. purchased equipment and machinery for a total price of $500,000, paying cash of $80,000 and borrowing the balance from the bank to be repaid within 12 months. The bank appraised the equipment at $329,000 and the machinery at $141,000.
Plese to explain to me for this task calculation , I did the tot.price divide by the 12 month to get residule value, but my answer was not right, hm?
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Fundamental Accounting Principles Volume II
Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
