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Accounting (Amortization Question)
Please help me I am not able to solve this problem. I need to do it today.
Shoes R US bought a new shoe making machine on Jan 1. It cost $500. The owners figure they can use it for 5 years after which it will be worth nothing (ie no residual value). The show machine has a CCA rate of 10%. Compare the accounting straight line amortization and net book value and tax return CCA and UCC for the 5 year life of the machine. |
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