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If you know that the company during the year bought new equipment for the amount of 5800 dinars in cash and sold old equipment for the amount of 1900 dinars in cash, the cost of which was 9000 dinars and depreciated by 70% find the following: the amount of depreciation of the equipment for the year​

User Stumped
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  • To calculate the cost of sales, add your beginning inventory to the purchases made during the period and subtract that from your ending inventory. To calculate the total values of sales, multiply the average price per product or service sold by the number of products or services sold.
  • In general, the consolidation of financial statements requires a company to integrate and combine all of its financial accounting functions together in order to create consolidated financial statements that shows results in standard balance sheet, income statement, and cash flow statement reporting.

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User Mike Jablonski
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