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using the fixed ratio method. 1 - extinction in the third year 2 - cumulative extinction at the end of the fifth year. 3- The book value at the end of the

using the fixed ratio method. 1 - extinction in the third year 2 - cumulative extinction at the end of the fifth year. 3- The book value at the end of the

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q 1/ The University of Anbar purchased equipment for the purposes of the reconstruction campaign at an amount of (800) million Iraqi dinars, and the period of use was estimated to be (8) years. If the recoverable value was (200) million dinars. Find using the fixed ratio method. 1 - extinction in the third year 2 - cumulative extinction 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:Q 1/ The University of Anbar purchased equipment for the purposes of the reconstruction campaign at an amount of (800) million Iraqi dinars, and the period of use was estimated to be (8) years. If the recoverable value was (200) million dinars. Find using the fixed ratio method. 1 - extinction in the third year 2 - cumulative extinction 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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