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 N165XW99 .. N291MDU79 N361TXP82 Depreciation Method Straight Line Units of Activity Declining balance method Purchase date January 1,2020 . July 1,2020 .. October 1,2020 Cost ($) 140000 200000 250000 Salvage Value ($) 10000 40000 50000 Useful Life (Years) 5 7 4 N291MDU79 is expected to be used for 25000 hours. Actual hours used in the year 2020 and 2021 were 5700 hours and 10900 hours respectively.
Complete the depreciation schedules of each of the machines for 2020 and 2021.
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