Sanjay sharma purchased an office equipment for 107000.on 1st April 2014 and spent 3000 on its freight . the life of the equipment is estimated as 20 years when it will be sold for 10000. Calculate the rate of depreciation per annum and prepare office equipment account for first four years . books are closed on 31st March every year
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Explanation:
107000+3000/20=5500
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