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FAC3701 - Assignment 2 Semester 1 2021 Complete #828043

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Institution University Of South Africa (Unisa)
Course FAC3701 - General Financial Reporting (FAC3701)
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I keep the price as low as possible, for I too am a student. All the answers for FAC3701 assignment 2 of semester 1 with full explanation of why it is that answer. #

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FAC3701
Assignment 2
Semester 1
2021

Unique #828043

, QUESTION 1 = OPTION 3

Depreciation - Initial Estimate of 5 years
= 970
= 194 000

Depreciation - Re-estimate of 2 years
= 582
= 291 000

Difference: 194 000 - 291 000 = 97 000 Increase

Journal Entry Dr Cr
Depreciation (P/L) 97,000
Accumulated Depreciation (SFP) 97,000

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