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Chapter 4

Q. 4.Act.4

the cost of a company’s plant was £50,000. it was estimated that the plant would have a life of 20 years and that it could then be sold for £5000.
using the straight-line method of depreciation, how much depreciation would you charge to the statement of profit or loss in Year 1?


Verified Solution

£2250 (£50000 – 5000 = 45000 ÷ 20)