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please answer with how you found each blank. thanks ENTRY 40,000 (1-08%) 10 Depreciation Expense in Year 2 3 Depreciation Expense in Year of sale
please answer with how you found each blank. thanks
ENTRY 40,000 (1-08%) 10 Depreciation Expense in Year 2 3 Depreciation Expense in Year of sale Estimated Life (Yrs) Sold affer this many years Gain (*) or Loss(-) 25,000 Book Value @ Time of Sale INPUT 30,000 Cost of Equipment 760,000 100.000 Cost of Equipment Estimated Salvage Value Estimated Life (Yrs) 50,000 Estimated Salvage Value 12 Estimated Life (Yrs) Year of Change New Salvage Value New Life (TOTAL) 2024 Year of Testing 55,000 Net Future Cash Flows at 12/31 in year of Testing 500,000 90,000 5 Fair Value at 12/31 in year of Testing YD using original ife Depreciable Base Depreciation Expense in first year Years using original estimates Years of original estmate not used SYD of original years not used SYD of original years used AD on 1/1 in year of change BV on 1/1 in year of change Depreciation Expense in first year Years Depreciated AND at 12/31 used for Testing at 12/31 used for Testng Testing Item mpaired? (Yes or No Impairment Loss AVD reported this year NEW ESTIMATES ase on 1i in year Years remaining on 1/1 in year of change SYD of new life Depreciation Expense in year of change ND at 1231 in year of change BV at 12/31 in year of change New Depreciable Base New Depreciation Expense AD at 12/31 in year following impairment test Step by Step Solution
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