Equipment is purchased on 1 August 20*6 at a cost of 50,000. It has an expected life

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Equipment is purchased on 1 August 20*6 at a cost of £50,000. It has an expected life of four years, after which it will have a scrap value of £2,000.


Required

Prepare the provision for depreciation of equipment account for the two years ended 31 July 20*7 and 31 July 20*8.

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