ABC Organization bought gear for $50,000 on January 1, 2022. The gear has a helpful existence of

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Question:

ABC Organization bought gear for $50,000 on January 1, 2022. The gear has a helpful existence of 5 years and a rescue worth of $5,000. The organization utilizes the straight-line devaluation strategy.

1.Work out the yearly devaluation cost for the hardware.
2.Set up the diary section to record the devaluation cost for the main year, December 31, 2022.
3.Work out the book worth of the gear toward the finish of the subsequent year, December 31, 2023.