Solve the depreciation expense for printing machinery

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Reference no: EM132723271

Problem 1: On 1st of July 2015, a construction company in Oman purchased ready-mix concrete truck at a cost of RO 55,000. With an estimated salvage value of RO 5,000. It is expected that the asset will be useful for 8 years. Assume that the company use straight line method for calculating depreciation, Calculate the depreciation expense for printing machinery during 2015 and 2016. Also, calculate the book value of the asset at the end of 2016?

Reference no: EM132723271

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