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Calculate the carrying amount of the machinery at the end

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Question

An entity purchased machinery for $100,000, which was expected to have no residual value.

Calculate:

(i) the depreciation expense for the third year of the machinery's life,

(ii) the accumulated depreciation of the machinery at the end of the third year, and

(iii) the carrying amount of the machinery at the end of the third year, assuming straight line depreciation is used over an expected useful life of 8 years.

Calculate items (i) to (iii) again assuming a useful life of 4 years.

Reference no: EM132360141

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