Calculation of carrying value of the asset

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Reference no: EM1313896

Calculation of carrying value of the asset.

A. A company using the group method fro its delivery trucks retired one of its delivery truck after the average service life of the group was reached. Cash proceeds were received from a salvage company. The net carrying amount of these group assets accounts would be decreased by the ___________________

B. Nimbus Inc purchased certain assets under a deferred payment contract. The agreement was to pay $30,000 per year for 10 years. The plant assets should be valued at __________________

Reference no: EM1313896

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