T-accounts for depreciation The following information is taken from the accounts of Lorikeet Ltd. $000 Equipment, 1

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T-accounts for depreciation The following information is taken from the accounts of Lorikeet Ltd.

$000 Equipment, 1 July 2021 2 500 Equipment, 30 June 2022 3 900 Accumulated depreciation – equipment, 1 July 2021 800 Accumulated depreciation – equipment, 30 June 2022 600 Equipment sold during the year

– cost price 900

– accumulated depreciation 350

– proceeds 700 What was the depreciation expense for equipment for the year?

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Fundamentals Of Accounting And Financial Management

ISBN: 9780170454797

8th Edition

Authors: Professor Ken Trotman, Kerry Humphreys

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Question Posted: Jul 29, 2024 07:06 AM

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T-accounts for depreciation The following information is taken from the accounts of Lorikeet Ltd. $000 Equipment, 1

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Fundamentals Of Accounting And Financial Management

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