Question
Nazmul Enterprise has 3 machines. The company follows different depreciation methods for each of the machine. Information regarding the 3 machines is given below: Machine
Nazmul 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 N196XW91 .. N206MDU72 N302TXP86 Depreciation Method Straight Line Units of Activity Declining balance method Purchase date January 1,2020 . July 1,2020 .. October 1,2020 Cost ($) 150000 190000 260000 Salvage Value ($) 20000 40000 50000 Useful Life (Years) 5 7 5 N206MDU72 is expected to be used for 26000 hours. Actual hours used in the year 2020 and 2021 were 5500 hours and 10600 hours respectively.
Complete the depreciation schedules of each of the machines for 2020 and 2021.
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