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TO Question 3 Anidaso Company Ltd maintains its Tangible non- current assets at cost. Depreciation provision account is prepared using 25% per annum on straight
TO Question 3 Anidaso Company Ltd maintains its Tangible non- current assets at cost. Depreciation provision account is prepared using 25% per annum on straight line method for machinery and for each proportion of the year. The following transactions took place during the year: 2018: 15 January, Bought machinery GH250,000 1st January, Bought machinery GH300,000 2019: 15 October, Bought machinery GH420,000 2020: 13' December, 2020 sold the machinery bought on 1st January 2018 for GH80,000 31sst August, bought a new machine to replace the disposed item for GH600,000 Required: M Prepare i. The machinery account (2018-2020) ii. The provision for depreciation (2018-2020) iii. The disposal account (10 marks)
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