a company purchased some furniture costing 20000 on 1st january 2000 they decided to write off depreciation @10% per annum on the diminishing balance anually..
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Opening balance. = 20000
Less : depreciation =(2000)
20000*10%
Closing wdv on 31/12/2020 = 18000
Less : depreciation =(2000)
20000*10%
Closing wdv on 31/12/2020 = 18000
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