You received the following information from a company's December 31, 2019 financial statements: Asset Useful...
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You received the following information from a company's December 31, 2019 financial statements: Asset Useful Life (Years) Book Value Depreciation Method Date of Purchase Historical Cost Accumulated Depreciation Land Indefinite E D B. Building 40 Straight-line F $ 640,000 $ 128,000 $ 512,000 Equipment 10 Double- declining balance H 2-Jul-18 $ 60,000 G Truck 1 Straight-line 2-Jan-13 $ 50,000 $ 15,000 35,000 $ Additional information: i. The company's fiscal year ends on December 31, 2019. ii. The land and building were purchased on the same date for an aggregate price of $700,000. iii. The residual value for each asset category is zero. Required (show all your calculations): 1. Determine the unknown values in the above table (i.e., cells A through 1)
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