XYZ Company purchased a vehicle in September 30, 2015. The invoice

price of the equipment was $100,500 and the delivery was $2,000.

Management predicted that the company would use the vehicle for 7

years. Book value on December 31, 2015 was $99,150.

1. Total cost of the vehicle is?

2. Depreciation expense of this equipment on 2015 is?

3. Residual value of the asset is?

On June 20, 2021, XYZ Company sold the equipment for $35,000.

4. Accumulated depreciation on June 29, 2020 was

5. Gain/loss on the sale of equipment was