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Please answer question 3 a & b QUESTION 3 An equipment costing RM50,000 and residual value of RM2,000 was acquired on 1 January 20x1 and
Please answer question 3 a & b
QUESTION 3 An equipment costing RM50,000 and residual value of RM2,000 was acquired on 1 January 20x1 and depreciated on a straight line basis over 10 years. As at 1 January 20X3, it was determined that the remaining life of the equipment was 4 years with no residual value. Required: (a) Explain how the above should be treated. (b) Compute the amount of depreciation charge for year 20x3 Step by Step Solution
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