Question
how to calculate the comprehensive problem: as in a journal entry With this problem please apply the diminishing balance method of calculating the depreciation expense
how to calculate the comprehensive problem: as in a journal entry
With this problem please apply the diminishing balance method of calculating the depreciation expense and not the sum-of-years-digit method referred to in the question. The relevant depreciation rates are:
Jan 5 purchased a used machine (no ) for $800 cash (net of GST) The machine was painted and reconditioned at a cost of $900. During installation, one of the major components was dropped and had to be repaired at a cash cost of $300, net of GST. The machine is expected to have a useful life of years and a residual value of $500
Machine 1: 51.32%
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