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This question has 2 parts (a) Compute the annual depreciation for the following Tangible asset bought on January 1, 2019 using the reducing balance method

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This question has 2 parts (a) Compute the annual depreciation for the following Tangible asset bought on January 1, 2019 using the reducing balance method for the first five (5) years; Cost of Equipment $500,000 Residual value $20,000 Rate per annum 20% (4 marks) (b) Show the Statement of financial position (extract) as at December 31, 2019 (1 mark) 7 ir B I I EE

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