Homework Answers
Depreciation per year = (Cost - Salvage value)/Useful life
= (870,000-61,000)/5 = 161,800
Book value on May 1,2021 = 870,000 - (161,800*4) - (161,800*4/12)
= 870,000 - 647,200 - 53,933
= 168,867
Gain = Cash received - Book value
18,800 = Cash received - 168,867
Cash received = 18,800 + 168,867
= 187,367
Option B is the answer
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method assuming the machinery was purchased on September 1,
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