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Thornhill Manufacturing Inc. purhased and later sold a machine. Details relating to the machine are below. Acquisition cost $132,000 Date of purchase 1-Apr-20 Date put
Thornhill Manufacturing Inc. purhased and later sold a machine. Details relating to the machine are below. Acquisition cost $132,000 Date of purchase 1-Apr-20 Date put into use 1-May-20 Estimated useful life in years 51 Estimated residual value $18,000 Date of disposal 1-Jul-24 Proceeds of disposal $58,000 Complete a depreciation chart for this machine and then answer the following questions. Question 32 (2 points) What is the accumulated depreciation at the end of 2022? A Question 33 (2 points) How much depreciation expense should be recorded in 2024, the year of the disposal? A/ Question 34 (2 points) What is the book value on the disposal date? A/ Question 35 (2 points) What is the gain or loss on the disposal? If a loss, enter as a negative number (i.e. as -1000). If a gain, enter as a positive number (i.e., as 1000). A
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