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  3. on 1/8/2015 equipment was purchased for $62.000, f

on 1/8/2015 Equipment was purchased for $62.000, Freight charges amounted to $29,000 and there was...

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Finance

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on 1/8/2015 Equipment was purchased for $62.000, Freight charges amounted to $29,000 and there was a cost of $15,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $11.000 salvage value Determine the book value of the equipment at the end of year if the company is using the MACRS depreciation method, assuming it will be depreciated using a 10 year normal recovery period. In the month of August, o firm hod total cash receipts of 570,000, total cash disbursements of $18,000, depreciation expense of $17,000, o minimum cash balance of $3,000, and a beginning cash balance of 517,000 Based on the given information, determine the ending cash balance for August

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