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 N188XW91 .. N237MDU70 N300TXP87 Depreciation Method Straight Line Units of Activity Declining balance method Purchase date January 1,2020 . July 1,2020 .. October 1,2020 Cost ($) 140000 180000 240000 Salvage Value ($) 20000 30000 60000 Useful Life (Years) 4 6 5 N237MDU70 is expected to be used for 26000 hours. Actual hours used in the year 2020 and 2021 were 5600 hours and 11000 hours respectively.
Complete the depreciation schedules of each of the machines for 2020 and 2021.
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