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Give adjusting and closing entries to record depreciation

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On January 1ststRequired With Explanation:a. Determine the depreciable cost of machine 2018 Farah Company purchased a machine at a list price of Rs. 100000.The installation of the machine a part was damaged and repaired at a cost of RS. 2200. the machine had a working life 14000 hours and a salvage value of Rs. 1400. The company's accounting year ends on December 31. during the year 2016 the machine worked for 1800 hours during 2017 for 2400 hours and 2018 for 1200 hours.

Problem 1: Compute depreciation expense for the years 2016 , 2017 and 2018.

Problem 2: Give adjusting and closing entries to record depreciation the years 2016, 2017 and 2018.

Problem 3: Show how the machine will appear in the balance sheet on December 31st 2018.

Reference no: EM132707003

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