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Exercise 4-5 (Part Level Submission) Acadia Inc. owns the following long-lived assets: Asset Vehicles Equipment Date Purchased Cost Jan. 1, 2017 $33,000 July 1, 2018 12,000 Estimated Useful Life 3 years 5 years

Exercise 4-5 (Part Level Submission) Acadia Inc. owns the following long-lived assets: Asset Vehicles Equipment Date Purchased Cost Jan. 1, 2017 $33,000 July 1, 2018 12,000 Estimated Useful Life 3 years 5 years

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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Exercise 4-5 (Part Level Submission) Acadia Inc. owns the following long-lived assets: Asset Date Purchased Cost Vehicles $33,000 Equipment 12,000 Jan. 1, 2017 July 1, 2018 Estimated Useful Life 3 years 5 years
Transcribed Image Text:Exercise 4-5 (Part Level Submission) Acadia Inc. owns the following long-lived assets: Asset Date Purchased Cost Vehicles $33,000 Equipment 12,000 Jan. 1, 2017 July 1, 2018 Estimated Useful Life 3 years 5 years
(b) For each asset, calculate its accumulated depreciation and carrying carrying a Vehicles Equipment Accumulated depreciation Carrying amount $ amount at December 31, 2018.
Transcribed Image Text:(b) For each asset, calculate its accumulated depreciation and carrying carrying a Vehicles Equipment Accumulated depreciation Carrying amount $ amount at December 31, 2018.
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