Question
XYZ Company bought a new printing machine on 1 January 20X0. The cost of the machine was $80,000. The installation costs were $6,000, the delivery
- XYZ Company bought a new printing machine on 1 January 20X0. The cost of the machine was $80,000. The installation costs were $6,000, the delivery expenses of $2,000 and professional fees were $1,000.
What should be the net book value on 31 December 20X1, if the salvage value is $3,000 and useful life is 10 years and the company uses declining balance method (20% rate)? (2.5 points)
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Horngrens Accounting Volume 1
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura
12th Canadian Edition
0136889373, 9780136889373
