problem 3

Required information Problem 8.6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below! Onslow Co. purchased a used machine for $144,000 cash on January 2 On January 3. Onslow paid 58.000 to wire electricity to the machine and an additional $1,600 to secure it in place. The machine will be used for six years and have a $17.280 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of try worksheet