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Show me the steps to solve Jemma s draft statement of profit or loss shows a profit of $ 3 8 , 6 2 0
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Jemmas draft statement of profit or loss shows a profit of $ for the year to December X On
investigation it was identified that a piece of equipment that was purchased on January X for $ had
been debited to the repairs account in error. The policy is to depreciate equipment at a rate of per annum on
cost
What is the net profit for the year to December X after adjusting for the above error?
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