Chrétien Brothers Salvage made several equipment purchases in the past decade. Its first asset was a tow truck bought in 2009 for $26,000. In 2011 a van was purchased for $17,000. A second tow truck was bought in 2014 for $28,000, and the first one was sold the following year for $7000. Using a 30 percent CCA rate (automobiles, trucks, and vans), what was the balance of its UCC account at the end of 2016? Chrétien Brothers Salvage had a balance of $ in its UCC account at the end of 2016. (Do not round until the final answer. Then round to the nearest dollar as needed.)

Chrétien Brothers Salvage made several equipment purchases in the past decade. Its first asset was a tow truck bought in 2009 for $26,000. In 2011 a van was purchased for $17,000. A second tow truck was bought in 2014 for $28,000, and the first one was sold the following year for $7000. Using a 30 percent CCA rate (automobiles, trucks, and vans), what was the balance of its UCC account at the end of 2016? Chrétien Brothers Salvage had a balance of $ in its UCC account at the end of 2016. (Do not round until the final answer. Then round to the nearest dollar as needed.)

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Description: Chrétien Brothers Salvage made several equipment purchases in the past decade. Its first asset was a tow truck bought in 2009 for $26,000. In 2011 a van was purchased for $17,000. A second tow truck was bought in 2014 for $28,000, and the firstone w

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 13PA: Colquhoun International purchases a warehouse for $300,000. The best estimate of the salvage value...

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