property costing £ 750,000 . The useful lives of the land improvements and the personal property are 10 years and 5 years , respectively . Salem Company uses component depreciation , and the company uses straight-line depreciation for other similar assets . What is the net amount reported for the building on Salem Company ’ s December 31 , 2013 statement of financial position ?
£ 7,573,750 £ 6,483,750 £ 7,800,000 £ 7,665,000 5- Multiple Choice Question 77
Yocum Company purchased equipment on January 1 at a list price of $ 100,000 , with credit terms 2 / 10 , n / 30 . Payment was made within the discount period and Yocum was given a $ 2,000 cash discount . Yocum paid $ 5,000 sales tax on the equipment , and paid installation charges of $ 1,760 . Prior to installation , Yocum paid $ 4,000 to pour a concrete slab on which to place the equipment . What is the total cost of the new equipment ?
$ 104,760 $ 108,760 $ 110,760 $ 101,000 6- Multiple Choice Question 98
A company purchased factory equipment for $ 350,000 . It is estimated that the equipment will have a $ 35,000 salvage value at the end of its