1
answer
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watching
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29 Mar 2019
Earthmoving equipment is purchased by a construction company for $750000. Using five year life and salvage value of %5 of the equipmentâs first cost, determine the following: a. Straight-line depreciation expense per year. b. Book value of the equipment using straight-line at the end of five years. c. Annual depreciation expense for each year using MACRS methods. d. Book value of the equipment for the five years using MACRS. e. Show the entries in the Accounting equation for straight line and MACRS if the equipment is sold at the end of fourth year for $300000. What are the tax consequence?
Earthmoving equipment is purchased by a construction company for $750000. Using five year life and salvage value of %5 of the equipmentâs first cost, determine the following: a. Straight-line depreciation expense per year. b. Book value of the equipment using straight-line at the end of five years. c. Annual depreciation expense for each year using MACRS methods. d. Book value of the equipment for the five years using MACRS. e. Show the entries in the Accounting equation for straight line and MACRS if the equipment is sold at the end of fourth year for $300000. What are the tax consequence?
Elin HesselLv2
1 Apr 2019
