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d) A car is bought for 10,000 in 2018 and is expected to last 5 years. There is no expected residual value and the car
d) A car is bought for 10,000 in 2018 and is expected to last 5 years. There is no expected residual value and the car is depreciated using the straight line method. What is the value of accumulated depreciation in the Statement of Financial Position and the expense for depreciation in 2020? Mention the effect on cash. (5 Marks) e) Define and explain any two accounting concepts
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