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On 1 January 2020, a company which prepares financial statements to 31 December each year buys a machine at a cost of 78,000. The machine's

On 1 January 2020, a company which prepares financial statements to 31 December each year buys a machine at a cost of 78,000. The machine's useful life is estimated at three years with a residual value of 18,125. The machine is expected to achieve 70,000 units of production over its useful life, as follows: (7 Marks)

Year

Number of unites

2020

25,000

2021

35,000

2022

10,000

Fill the blank with the correct amount.

  1. thediminishing balance method (at a rate of 35%)
  1. Year
  1. Carrying amount
  1. Depreciation at 35%
  1. 2020
  1. 78,000
  1. Blank 1
  1. 2021
  1. Blank 2
  1. Blank 3
  1. 2022
  1. Blank 4
  1. 9760

  1. the unitsof production method.

Year

Number of unites

Depreciation

2020

25,000

Blank 5

2021

35,000

Blank 6

2022

10,000

Blank 7

  • Blank 1
  • Blank 2
  • Blank 3
  • Blank 4
  • Blank 5
  • Blank 6
  • Blank 7

PLEASE FILL THE BLANKK

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