320CheckFigures_11(1) - compare it with the new carrying...

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CHAPTER 11 Depreciation, Impairments, and Depletion EXERCISE 11-4 We are not covering sum-of-the-years’ digits. The answer to item (d) is $44,800. EXERCISE 11-17 (c) You will need an entry to record the recovery in fair value since the asset is being held for sale. Use the new fair value less cost of disposal stated in this part and
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Unformatted text preview: compare it with the new carrying value (after the loss adjustment in part a). The debit is Accumulated Depreciation – Equipment and the credit is Recovery of Loss on Impairment. 11-1...
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