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Annual revenues are $241,000, and selling and administrative expenses are $29,000, regardless of which elevator is used. If t

Prepare a 4-year summarized income statement for each of the following assumptions: (1) The old elevator is retained. Retain

(c) Your answer is partially correct. Try again. Using incremental analysis, determine if the old elevator should be replaced

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Answer #1

Salvage Value is the Value of asset after depreciation at end of it's useful life or at the time of disposal of same.

Here, In table of incremental analysis, "Salvage on old elevator" shall be taken as $24,500 instead of $59,500, as company will be able to sell elevator in $24,500. It seems Value of Loss on sale of elevator is entered in this field of salvage value.

Please make correction and verify the answer.

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