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Find what the depreciation expense would be

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Problem 1: The net book value of the plant asset at the start of the year is ?480,000. The depreciation rate is 2% per year. The net book value at the end of the year is ?470,000. If there are no additions nor disposals of assets, the depreciation expense would be:

a. ?9,800
b. ?500,000
c. ?10,000
d. ?200

Problem 2: The enterprise has sales for the year amounted to ?50,000, gross profit based on cost is 150%, beginning inventory is ?10,000 and purchases amounted to ?40,000. How much is the ending inventory?

a. ?16,667
b. ?30,000
c. ?33,333
d. ?20,000

Reference no: EM132911084

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