At the 1 January 20X1 the balance on Alex's plant and equipment cost account was 67,400 and

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Question:

At the 1 January 20X1 the balance on Alex's plant and equipment cost account was 67,400 and accumulated depreciation was 13,400. Plant and equipment are depreciated at 12.5% per annum using the reducing balance method. Required: Calculated the depreciation charge that should be included in Alex's statement of profit or loss account for the year ended 31 December 20X1