On 1 July 2021 the business bought on credit specialised equipment at a total cost including installation

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On 1 July 2021 the business bought on credit specialised equipment at a total cost including installation of

$68 981 ($62 710 + $6271 GST). It is to be depreciated using the diminishing balance method at a rate of 25% p.a.

Prepare:

a. the diminishing balance worksheet for four years to 30 June 2025

b. the depreciation balance day adjustment journal for 30 June 2023,

c. an extract balance sheet as at 30 June 2023.

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Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

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Question Posted: Feb 23, 2024 03:00 PM

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On 1 July 2021 the business bought on credit specialised equipment at a total cost including installation

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a Diminishing Balance Worksheet for four years to 30 June 2025 Year Ending Opening Balance Depreciat...View the full answer

Accounting An Introduction To Principles And Practice

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