Zimmer company owns an executive plane that originally cost $2,560,000. It has recorded straight line...
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Accounting
Zimmer company owns an executive plane that originally cost $ It has recorded straight line depreciation on the plane for seven full years calculated assuming a $ expected salvage value at the end of its estimated year useful life Zimmer disposes of the plane at the end of the seventh year.
A: at the disposal date, what is the cumulative depreciation expense and netbook value of the plane?
B: how much gain or losses reported at disposal of the sales price is: see chart
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