(Calculate missing information, LO 2, 3, 6) Use the following information and determine the NBV of the capital assets of Ziska Ltd. (Ziska) on July 1, 2003, the first day of its 2004 fiscal year. An accounting equation spreadsheet may help you do this question.

i. On June 30, 2004 the cost of Ziska’s capital assets was $2,250,000 and the accumulated amortization was $1,025,000.

ii. During fiscal 2004 Ziska purchased capital assets for $475,000 in cash plus

$200,000 in notes payable.

iii. During fiscal 2004 Ziska sold capital assets with a cost of $270,000 at a gain of

$60,000. Ziska received $100,000 cash for the assets.

iv. During fiscal 2004 Ziska sold land, which is included in the capital asset account, for $215,000, which produced a loss for accounting purposes of

$80,000.

yv. During fiscal 2004 Ziska wrote down capital assets by $83,000.

vi. Ziska recorded an amortization expense of $230,000.