Unformatted text preview: ﬂn June 1, Eﬂlﬁ, IVE Empany paid $33,333 ta purchase land, a building,
and same equipment. The market value af these assets an that date were:
land $153,333; building $223,333; equipment Illzﬁﬂﬂ. The equipment was
assigned a useful life at 15 years and a 15,3“! residual value. The
equipment will be depreciated using the straight-line lethad. ﬂn Have-her 3a, 2323, HI Empany sald the equipment far $33,333 cash. Calculate the amount af the lass retarded an the sale ad" the equipment. ...
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