SWFT Comprehensive Vol 2020
43rd Edition
ISBN: 9780357391723
Author: Maloney
Publisher: Cengage
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General Accounting
Silver Spoon, a fine-dining restaurant, began its operations in 2015. Its fixed assets had a book value of $950,000 in 2016. The restaurant did not purchase any fixed assets in 2016. The annual depreciation expense on fixed assets was $80,000, and the accumulated depreciation account had a balance of $160,000 on December 31, 2016. What was the original cost of fixed assets owned by the restaurant in 2015 when it started its operations?
How much did they charge for each pair ?
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