Question: The Ben Company has purchased equipment costing $400,000 with additional charges of $50,000 for installation and Marks' delivery. The expected useful life of the equipment

The Ben Company has purchased equipment costing $400,000 with additional charges of $50,000 for installation and Marks' delivery. The expected useful life of the equipment is estimated to be 10 years with a $50,000 salvage value after that time. Using the Straight-Line method of depreciation and assuming the equipment was purchased at the beginning of the financial year, :

Balance Sheet extract for Equipment in the second and third years.

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