Question

A business entity accounting year end of 31 december. on 01-04-2003 it purchased an asset for 14000$. the asset is expected to have useful life of 5 years with an estimated residual value of 2000$ . depreciation is charged on straight line method bases with a proportionate charge in the year of purchase and disposal machine sold on 31-12-2006 .what was the annual depreciation charge included in the financial statements for each accounting year that the entity owned the year? ​

Answer 1

Answer:

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Explanation:

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