Question
Use Excel Functions Please 1. Worn Out Equipment, Inc., has the following year-end balance sheet values for its depreciable assets: Equipment $478,213 Buildings $8,648,382 Less
Use Excel Functions Please
1. Worn Out Equipment, Inc., has the following year-end balance sheet values for its depreciable assets:
Equipment | $478,213 | Buildings | $8,648,382 |
Less Accumulated Depreciation | 265,111 | Less Accumulated Depreciation | 2,424,171 |
Net Equipment | $213,102 | Net Buildings | $6,224,211 |
a. Determine the values for equipment, accumulated depreciation on equipment, and net equipment at the end of the next year if, until that time, the firm does not buy or sell any equipment but expenses another $52,099 of depreciation.
b. Determine the values for buildings, accumulated depreciation on buildings, and net buildings at the end of the next year if, during the next year, the firm buys a new building for $1.5 million and takes total depreciation (including the new building) of $404,764.
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