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Hi Mr John,
can you please help me understand this question
At 30 September 2002,the following balances existed: plant and equipment cost $860,000
Accumulated depreciation,$397,000.During the year ended 30 September 2003,plant with a written down value of $37000 was sold for 49,000. The plant had originally cost $80,000
Plant purchased during the year cost $180,000.the policy is to charge a full years depreciation in the year of acquisition of an asset and none in the year of sale, using 10% on the straight line basis.
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