Question
A machine with cost of 1.000.000 TL is purchased on january 1 , 2016. Its useful life is 5 years and estimated residual is 20.000
A machine with cost of 1.000.000 TL is purchased on january 1 , 2016. Its useful life is 5 years and estimated residual is 20.000 TL.(Double Declining Balence)
Required:
a-)Calculate this machine's depreciation expenses over 5 years.
b-)Journalize the sale transaction when this machine is sold for 300.000 TL after 3 years.
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
