FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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= $
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Transcribed Image Text: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= $
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