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Prepare the schedule for the net book value of equipment

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Problem 1: A company has equipment costing $100 with accumulated depreciation of $40 at the beginning of the year and equipment costing $150 with accumulated depreciation of $60 at the end of the year. During the year equipment costing $90 was purchased. Furthermore, depreciation expense of $50 was recorded during the year. Also during the year, some equipment was scrapped for nil proceeds. Prepare the schedule for the net book value of equipment for the year.

Reference no: EM132822459

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