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A company purchased kitchen equipment on 30 June 2016 as follows: Cost (GST exclusive) $26,000 Residual value $4,000 Estimated useful life 5 years Under the straight-line method of the depreciation, the machine's net carrying amount at 31 December, 2018 was $____ Group of answer choices 13,000

A company purchased kitchen equipment on 30 June 2016 as follows: Cost (GST exclusive) $26,000 Residual value $4,000 Estimated useful life 5 years Under the straight-line method of the depreciation, the machine's net carrying amount at 31 December, 2018 was $____ Group of answer choices 13,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A company purchased kitchen equipment on 30 June 2016 as follows: Cost (GST exclusive) $26,000 Residual value $4,000 Estimated useful life 5 years Under the straight-line method of the depreciation, the machine's net carrying amount at 31 December, 2018 was $ Group of answer choices 13,000
Transcribed Image Text:A company purchased kitchen equipment on 30 June 2016 as follows: Cost (GST exclusive) $26,000 Residual value $4,000 Estimated useful life 5 years Under the straight-line method of the depreciation, the machine's net carrying amount at 31 December, 2018 was $ Group of answer choices 13,000
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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