Week 4 - Team A assignments

Week 4 - Team A assignments - E11-8 (Depreciation...

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Unformatted text preview: E11-8 (Depreciation ComputationReplacement, Nonmonetary Exchange) George Zidek Corporatio bought a machine on June 1, 2005, for $31,000, f.o.b. the place of manufacture. Freight to the point where it was set up was $200, and $500 was expended to install it. The machines useful life was es at 10 years, with a salvage value of $2,500. On June 1, 2006, an essential part of the machine is replaced, at a cost of $1,980, with one designed to reduce the cost of operating the machine. The co the old part and related depreciation cannot be determined with any accuracy. On June 1, 2009, the company buys a new machine of greater capacity for $35,000, delivered, tradi in the old machine which has a fair market value and trade-in allowance of $20,000. To prepare the machine for removal from the plant cost $75, and expenditures to install the new one were $1,500. Imachine for removal from the plant cost $75, and expenditures to install the new one were $1,500....
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This note was uploaded on 01/12/2011 for the course ACCTING Acc423 taught by Professor Rob during the Spring '10 term at DeVry Long Beach.

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Week 4 - Team A assignments - E11-8 (Depreciation...

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