Calculating Book Value using Depreciation

Calculating Book Value using Depreciation

Calculating Book Value using Depreciation
 
On June 1, 2004, XYZ Company paid $360,000 to purchase land, building, and equipment. The market value of these assets on that date were: land $90,000; building $260,000; equipment $50,000.Before the facilities could be used, XYZ Company had to spend $4,000 to put the equipment in working order and …