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1. Company A buys a piece of equipment for K10,500. The equipment has an expected life of 10 years and a salvage value of K500. Company A uses diminishing balance method to calculate depreciation. Required: a) Calculate Depreciation Rate - 5 marks b) Prepare depreciation schedule -10 marks c) Pass necessary Journal entries -10 marks d) Prepare Machine account - 10 marks e) Prepare Depreciation account - 10 marks what is the calculation of depreciation using the diminishing method
Sagot :
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