The following table includes specific details related to four different assets owned by Shabra Ltd....
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Accounting
The following table includes specific details related to four different assets owned by Shabra Ltd. as at December 31, 2020. Shabra's fiscal year ends on December 31. The land and building were purchased on the same date for an aggregate price of $640,000. The company does not use the units-of-production method for depreciation, and assumes that the residual value for each asset is zero. Required: Determine the missing values in the below table. Land Truck January 1, 2013 Date of purchase Acquisition cost Useful life Building Machine January 1, 2013 July 2, 2017 $ 608,000 $ January 1, 2014 60,000 $ 150,000 Indefinite 40 years 10 years Depreciation method Accumulated depreciation Carrying amount Straight line $ Double-declining balance 121,600 Straight line $ 105,000
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