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Create a depreciation schedule for the machine

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Reference no: EM132656932

The WWE Company purchased a bodybuilding machine today the 14th of January, 2020. The machine has an installed cost of Tk.200,000 and an estimated useful life of 3 years. At the end of its useful life in August, 2023, the machine can be scrapped at a salvage value of Tk.10,000. The firm has no plan to keep the machine beyond its useful life. WWE will use the declining balance method for depreciating the machine.

Required:

Problem 1: Prepare a depreciation schedule for the machine for each of the accounting years the machine will be in use, i.e. years 2020, 2021, 2022, 2023, and 2024.

Reference no: EM132656932

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