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At the end of the year Panda Inn owns a fleet of 15 trucks all of which have 10 year useful lives, $1,000 residual values and are depreciated under GAAPs straight-line method. The CEO has authorized the sale of one five-year-old truck whose original cost was $45,000 at December 31". A few months later on March 29th a buyer is found and Panda receives the Kelly Blue Book fair market value of $16,900 for the automobile. Please show calculations and record JE(s) below.
Calculations:
Please do not write below this line. For use by Prof. Mares Bonuspoints earned: /2
If ‘profit' maximisation is biased towards maximising the interest of only one stakeholder group, would you expect that over time there will be less emphasis on profits and more emphasis on other performance indicators?
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