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27.17A A company maintains its fixed assets at cost. Accumulated provision for depreciation accounts are kept for each asset. At 31 December 20x8 the position

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27.17A A company maintains its fixed assets at cost. Accumulated provision for depreciation accounts are kept for each asset. At 31 December 20x8 the position was as follows: Total Cost To Date Total Depreciation To Date Machinery Office furniture 52,950 2,860 25,670 1,490 (a) (b) Purchased - machinery 2,480 and office furniture 320 Sold machinery which had cost 2,800 in 20X5 for 800 Depreciation is charged, on a straight line basis, at 10% on machinery and at 5% on office furni- ture on the basis of assets in use at the end of the year irrespective of the date of purchase. Required: Show the asset and accumulated provision for depreciation accounts for the year 31 December 20X9 and the relevant balance sheet entries at that date

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