Your company purchased new equipment on the dates and for the costs specified as follows: Purchase Price 01 May 2010 $42000 01 Nov 2011 $28000 01 Jan 2012 $32000 Salvage Value $15000 $10000 $15000 (a) Using straight line depreciation with 10 year depreciable lifetimes, calculate the total book value (BV) of your equipment at the end of 2012. BV 2012= $ (b) Using a CCA rate of 30%, calculate the undepreciated capital cost (UCC) of your equipment at the end of 2012. UCC 2012= $

Your company purchased new equipment on the dates and for the costs specified as follows: Purchase Price 01 May 2010 $42000 01 Nov 2011 $28000 01 Jan 2012 $32000 Salvage Value $15000 $10000 $15000 (a) Using straight line depreciation with 10 year depreciable lifetimes, calculate the total book value (BV) of your equipment at the end of 2012. BV 2012= $ (b) Using a CCA rate of 30%, calculate the undepreciated capital cost (UCC) of your equipment at the end of 2012. UCC 2012= $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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