the end of year 1, independent appraisers determine that the asset has a fair value of $ 1,500,000.
The journal entry to adjust the plant assets to fair value and record revaluation surplus in year one will include a
3) A major objective of MACRS for tax depreciation is to
4) Sifton Company reported the following data:
2014 2015
Sales $ 3,000,000 $ 3,900,000
Net Income 300,000 400,000