Homework Answers
Answer 7. $59,070
| A. | Purchase Price of Asset | $566,000 |
| B. | Salvage Value | $29,000 |
| C. | Book Value ( A-B) | $537,000 |
| D. | Estimate useful Life ( Hours) | 10000 |
| E. | Depreciation per hour ( C/D) | 53.70 |
| F. | Current year usage ( Hours) | 1100 |
| G. | Depreciation for the year ( F*E) | $59,070 |
Answer 16. $43,865
| A. | Purchase price of Equipment | $40,000 |
| B. | Sales tax on Purchase | $2,400 |
| C. | Freight Charges | $540 |
| D. | Repair | $260 |
| E. | Installation cost | $665 |
| F. | Cost of Equipment ( A+B+C+D+E) | $43,865 |
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