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On Oct 1 2021 Metro Company Purchased Equipment in Exchange

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On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022. On Oct 1 2021 Metro Company purchased equipment in exchange for a $77000 note payable.The equipment has an estimated salvage value of $17000 an estimated life of 4 years and is depreciated by the straight-line method.Use the following tabular analysis to determine the book value of the equipment at December 31 2022.   A) $56250. B) $58250. C) $31250. D) $27000.


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False Statements

Intentionally dishonest declarations or representations, especially ones made under circumstances where truthfulness is expected or required.

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The documents filed with a taxing authority that report income, expenses, and other pertinent tax information.

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Sanctions or punishments imposed for breaking a law, rule, or contract.

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An individual or entity obligated to pay taxes to governmental authorities based on earnings or property ownership.

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