Question 28 N plc purchased a machine for $18,000. The transportation costs were $1,700 and installation costs were $500. The machine broke down at the end of the first month in use and cost $400 to repair. N plc depreciates machinery at 10% per annum on cost, assuming no residual value. What is the net book value of the machine after one year, to the nearest pound? $ .

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 28
N plc purchased a machine for $18,000. The transportation costs were $1,700 and
installation costs were $500. The machine broke down at the end of the first month in use
and cost $400 to repair. N plc depreciates machinery at 10% per annum on cost, assuming
no residual value.
What is the net book value of the machine after one year, to the nearest pound?
Transcribed Image Text:Question 28 N plc purchased a machine for $18,000. The transportation costs were $1,700 and installation costs were $500. The machine broke down at the end of the first month in use and cost $400 to repair. N plc depreciates machinery at 10% per annum on cost, assuming no residual value. What is the net book value of the machine after one year, to the nearest pound?
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