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EXERCISE 3: DEPRECIATION AND CAPITAL COST ALLOWANCE On its statement of financial position, a company shows buildings purchased for $700,000, equipment purchased for $350,000, and machinery purchased for $170,000. The depreciation and capital cost allowance rates for these non-current assets are as follows: 1. Buildings 2. Equipment 3. Machinery Capital Cost Allowance 5% 20% 15% Straight-Line Depreciation 7% 25% 30% Question For the first five years of operation, calculate the amount of depreciation and capital cost allowance for the non-current assets.

EXERCISE 3: DEPRECIATION AND CAPITAL COST ALLOWANCE On its statement of financial position, a company shows buildings purchased for $700,000, equipment purchased for $350,000, and machinery purchased for $170,000. The depreciation and capital cost allowance rates for these non-current assets are as follows: 1. Buildings 2. Equipment 3. Machinery Capital Cost Allowance 5% 20% 15% Straight-Line Depreciation 7% 25% 30% Question For the first five years of operation, calculate the amount of depreciation and capital cost allowance for the non-current assets.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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BDOBJ EXERCISE 3: DEPRECIATION AND CAPITAL COST ALLOWANCE On its statement of financial position, a company shows buildings purchased for $700,000, equipment purchased for $350,000, and machinery purchased for $170,000. The depreciation and capital cost allowance rates for these non-current assets are as follows: 1. Buildings 2. Equipment 3. Machinery Capital Cost Allowance 5% 20% 15% Straight-Line Depreciation 7% 25% 30% Question For the first five years of operation, calculate the amount of depreciation and capital cost allowance for the non-current assets.
Transcribed Image Text:BDOBJ EXERCISE 3: DEPRECIATION AND CAPITAL COST ALLOWANCE On its statement of financial position, a company shows buildings purchased for $700,000, equipment purchased for $350,000, and machinery purchased for $170,000. The depreciation and capital cost allowance rates for these non-current assets are as follows: 1. Buildings 2. Equipment 3. Machinery Capital Cost Allowance 5% 20% 15% Straight-Line Depreciation 7% 25% 30% Question For the first five years of operation, calculate the amount of depreciation and capital cost allowance for the non-current assets.
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