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CHAPTER 10 STRAIGHT LINE VS. MACRS MACHINE DEPRECIABLE BASIS LIFE (YEARS) DATE PLACED IN SERVICE...

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CHAPTER 10 STRAIGHT LINE VS. MACRS MACHINE DEPRECIABLE BASIS LIFE (YEARS) DATE PLACED IN SERVICE SALVAGE VALUE 552,000 5 DATE SOLD MAY 1ST, 01 SALES PRICE JAN 1ST, YEAR 4 PREPARE THE FINANCIAL STMT JOURNAL ENTRY UPON SALE ASSUMING STRAIGHT LINE DEPR CASH AD LOSS 241,500 MACHINE PREPARE THE TAX BASIS JOURNAL ENTRY UPON SALE ASSUMING MACRS DEPR (A)

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