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kindly slove all parts. a ,b,c and d thankyou Question 3: On July 3, 2014, Super Traders bought equipment at a cost price of Rs.80,000.

kindly slove all parts. a ,b,c and d thankyou image text in transcribed
Question 3: On July 3, 2014, Super Traders bought equipment at a cost price of Rs.80,000. The estimated depreciation rate per year is 40 percent, scrap value is Rs. 17.050 and the estimated useful life is 3 years The business fiscal year is from January to December and for this asset, half year convention is used in the year of purchase Instructions: - a. Using the Declining Balance Method, prepare a depreciation schedule for all the three useful years. b. Give the adjusting entry to record the depreciation expense for 2014 c. The equipment was traded in for similar equipment on January 4, 2018. The list price of the new equipment was Rs. 90,000. Super Traders paid Rs. 25,000 cash and issued a 9 percent notes payable for Rs. 50,000. The trade in allowance was Rs. 15,000. Give entry to record the disposal. d. State, that for the new equipment, full year or half year convention will be applied in the year of purchase

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