Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Autocount Company purchased a new machinery for RM4,800 on 1st February 2018. The machine was then delivered to the company on 15th February 2018 to
Autocount Company purchased a new machinery for RM4,800 on 1st February 2018. The machine was then delivered to the company on 15th February 2018 to be installed and tested. It was then used for production on 1st March 2018. An invoice was received on March 3 , for the cost of the machine, plus installation and delivery of RM2,500. The machine is expected to be used for 5 years, and can then be sold RM1,300. Over its life, the machine can produce 600,000 units of products. The production output of 2018 was 60,000 units and in 2019 expected production is 120,000 units. The company's financial accounting year ends on 31st October 2018. Calculate depreciation expenses for 2018 and 2019 using the following methods: a. Straight Line b. Unit of Production c. Double Declining Balance d. Sum of the Year Digit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started