Question: Please explain this question with detailed working out and relevant formulas Question 6 1/1 pts Jenny purchased equipment at the beginning of July 2017 for

Please explain this question with detailed working out and relevant formulas QuestionPlease explain this question with detailed working out and relevant formulas

Question 6 1/1 pts Jenny purchased equipment at the beginning of July 2017 for $250,000. Jenny decided to depreciate the equipment over a ten-year period using the reducing-balance method (using 1.8 times the straight line rate). Jenny's accountant estimated the equipment's residual value at $25,000. Which of the following statements is correct concerning Jenny's financial statements at 30 June 2019? Correct! The carrying amount of the equipment is $168,100 O The total accumulated depreciation is $82,000 The carrying amount of the equipment is $205,000 Depreciation expense for 2019 is $37,000

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