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b) i) A piece of equipment costs $300,000 is expected to last 5 years, it is then sold for $75,000. What amount of depreciation will

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b) i) A piece of equipment costs $300,000 is expected to last 5 years, it is then sold for $75,000. What amount of depreciation will be entered into the balance sheet in any one year? Explain your answer. [2] Complete the balance sheet (Balance sheet 1 on Moodle) by adding this value. iii) Why is depreciation included on the assets side of the balance sheet? [1]

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