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Prepares tables showing the carrying amounts brought down

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Question - A Construction Company buys a building for $1,000,000 on 1st January 2019. Its estimated useful life in the business is 20 years, after which it will be sold for an estimated residual value of $200,000.

Required - Prepares tables showing the carrying amounts brought down and carried down and the depreciation expense for the period of 5 years using:

a. Straight line method of depreciation.

b. Reducing balance method of depreciation.

Reference no: EM132529934

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