Question
Moinul Enterprise has 3 machines. The company follows different depreciation methods for each of the machine. Information regarding the 3 machines is given below: Machine
Moinul Enterprise has 3 machines. The company follows different depreciation methods for each of the machine. Information regarding the 3 machines is given below: Machine Model N333TXP86 .. N191XW97 N221MDU72 Depreciation Method Declining balance Straight Line .. Units of Activity Purchase date October 1,2020 . January 1,2020 July 1,2020 Cost ($) 240000 150000 190000 Salvage Value ($) 60000 20000 30000 Useful Life (Years) 5 4 7 N221MDU72 is expected to be used for 25000 hours. Actual hours used in the year 2020 and 2021 were 5700 hours and 10800 hours respectively. Complete the depreciation schedules of each of the machines for 2020 and 2021.
Moinul Enterprise has 3 machines. The company follows different depreciation methods for each of the machine. Information regarding the 3 machines is given below: Machine Model Depreciation Method Purchase date Cost ($) Salvage Value ($) Useful Life (Years) N333TXP86 Declining balance October 1,2020 240000 60000 5 N191XW97 ... Straight Line January 1,2020 150000 20000 4 N221MDU72 Units of Activity July 1,2020 190000 30000 7 N221MDU72 is expected to be used for 25000 hours. Actual hours used in the year 2020 and 2021 were 5700 hours and 10800 hours respectively. Complete the depreciation schedules of each of the machines for 2020 and 2021Step by Step Solution
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