Ross Brothers purchased a new machine in July 20-7 costing 3,000. It is estimated it will have
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Ross Brothers purchased a new machine in July 20-7 costing £3,000. It is estimated it will have a useful life of five years, and a disposal value at the end of this time of £712. Accounts are prepared to 31 December each year and a full year’s depreciation is provided in the year of purchase.
You are required to show your calculations for depreciation for each of the five years using:
(a) the straight line method; and
(b) the reducing balance method at a rate of 25 per cent.
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