Question

N a m e s ahew N utor $45.000. The sales taxes are $2.500. The of the company is painted on the side of the truck for $1.200.
4. Mitchell Corporation bought equipment on January 1, 2017. The equipment cost $300,000 and had an expected salvage value of
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Answer #1
Amount ( $ )
Purchase price of new delivery truck 45000
Sales Tax 2500
Safety test 220
Painting of truck 1200
48920
Q 2 >
Depreciation to be charged (Cost of equipment - Salvage Value)/useful life
(3,00,000-50,000)/6
                                                                                41,666.67
Depreciation for two years 41666.67*2
                                                                                83,333.33
Book Value of asset at the beginning of the third year 3,00,000-83,333.33
                                                                            2,16,666.67
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