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following is a problem:
Machine #: 10
Date of Purchase: 1.11.x1
Original Cost: 1000
Depreciation rate: 10%a straight line method is used and it is assumed that at the ed of its life, there will a residual value of 10% of the original cost.
a full year’s depreciation is charged in the year of purchase.
what is the accumulated depreciation till dec 31st x5?
*** my problem is that the useful life has not been given so can i compute the annual charge?
annual dep=(cost-Residual value)/useful life
this imples: 900/useful life.but the useful llife is not given!
thanks for the help
10% straight line is the same as straight line over 10 years (just as 20% straight line is the same as straight line over 5 years)
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