Solved: Xyz acquired an item of furniture at a cost of ksh 1000000, Financial Accounting

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Xyz acquired an item of furniture at a cost of ksh 1000000

XYZ acquired an item of furniture at a cost of Ksh. 1,000,000. Furniture and fittings are depreciated at 10% on cost (straight line). XYZ also acquired an item of motor vehicles at a cost of KSh. 1,000,000. Depreciation is charged at 10% on the reducing balance.

Required:

Compute depreciation charge for each asset for years Yr. 1, 2, and 3

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Financial Accounting: Xyz acquired an item of furniture at a cost of ksh 1000000

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Financial Accounting: Xyz acquired an item of furniture at a cost of ksh 1000000

Reference No:- TGS0778255

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