ABC Inc., purchased a used piece of heavy equipment for $25,000. Delivery of the equipment to Padre’s business site cost $750. Expenditures to recondition the equipment and prepare it for use totaled $2,230. Determine the total cost of the Asset

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A: a)

Q: depreciation expense on this asset

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A: Additional costs=Cost to raze+Legal fee+Title=$70,000+$10,000+$16,000=$96,000

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A: Given that: Cost of Truck = $75,000 Residual value = $6000 Life = 5 years

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Q: On the first day of the fiscal year, Alpha Corporation purchased a machine with a cost of $65,000.…

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A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

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A: Depreciable cost=Value of truck-Salvage value=75,000-6,000=69,000