прапу amount of (500) million Iraqi dinars for the purpose of purchasing equipment, and the period of its use was estimated to be (8) years. If the recoverable value was (50) million dinars. Find, usin the constant ratio method, a depreciation in the third year 2 - cumulative depreciation at the end of the fifth year. 3- The book value at the end of the fifth year. 4- The book value at the end of the useful life (the period of use). 5- A statement of what

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A company borrowed an
amount of (500) million Iraqi
dinars for the purpose of
purchasing equipment, and
the period of its use was
estimated to be (8) years. If
the recoverable value was
(50) million dinars. Find, using
the constant ratio method, a -
depreciation in the third year
2 - cumulative depreciation
at the end of the fifth year.
3- The book value at the
end of the fifth year. 4- The
book value at the end of
the useful life (the period of
use). 5- A statement of what
the book value in (4) above
means in comparison with the
recovered value.
Transcribed Image Text:A company borrowed an amount of (500) million Iraqi dinars for the purpose of purchasing equipment, and the period of its use was estimated to be (8) years. If the recoverable value was (50) million dinars. Find, using the constant ratio method, a - depreciation in the third year 2 - cumulative depreciation at the end of the fifth year. 3- The book value at the end of the fifth year. 4- The book value at the end of the useful life (the period of use). 5- A statement of what the book value in (4) above means in comparison with the recovered value.
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