Please dont provide solution image based thanx Exercise 4-5 (Part Level Submission)Acadia Inc. owns the following long-lived assets:Asset Date Purchased CostVehicles$33,000Equipment12,000Jan. 1, 2017July 1, 2018Estimated Useful Life3 years5 years (b)For each asset, calculate its accumulated depreciation and carryingcarrying aVehiclesEquipmentAccumulated depreciationCarrying amount$amount at December 31, 2018.

Depreciation is the lowering of the value of a tangible asset because of wear and tear.To calculate…

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

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Please dont provide solution image based thanx

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.

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