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Q. 4. A fully amortized asset has a cost of $100.000 and zero residual value. (5 Marks) 1. What is the assets accumulated amortization? What

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Q. 4. A fully amortized asset has a cost of $100.000 and zero residual value. (5 Marks) 1. What is the assets accumulated amortization? What is it carrying value in the books of account if any? 2. The asset cost $100,000. Now suppose its residual value is $10,000. How much is its accumulated amortization if it is fully amortized. 3. Journalize the above two transactions

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