Homework Answers
Calculation of Depreciation for the year
Beginning value of machinery + Additions made - Deletions made - Depreciation = Closing value of machinery
600000 +230000 -0 - Depreciation =700000
Depreciation = 600000 + 230000 -700000
Depreciation =$130000
Note- deletions made is taken as $0 since old combine has $0 book value hence not included in opening value of machine
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