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You received the following information from a company's December 31, 2019 financial statements: Asset Useful...

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Accounting

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You received the following information from a company's December 31, 2019 financial statements: Asset Useful Life (Years) Depreciation Method Date of Purchase Historical Cost Accumulated Depreciation Book Value Land Indefinite B D E Building 40 F $ 640,000 $ 128,000 $ 512,000 Equipment 10 Straight-line Double- declining balance Straight-line 2-Jul-18 $ 60,000 G H Truck 2-Jan-13 $ 50,000 $ 35,000 $ 15,000 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). (8 marks)

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