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can someone help me with this question + calculations Test 4 A company has a number of items of equipment, which are depreciated at 25%
can someone help me with this question + calculations
Test 4 A company has a number of items of equipment, which are depreciated at 25% per annum on a reducing balance basis, with a full year's charge in the year of acquisition and none in the year of disposal. On 1 June 2019 the equipment had a carrying amount of $10,951, and $6,929 on 31 May 2020. During the year, equipment with a cost of $5,000, bought on 1 July 2017, was sold. What was the cost of new equipment during the year ended 31 May 2020? A $698 B $978 C $1,100 D $3.013Step by Step Solution
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