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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.
- thediminishing balance method (at a rate of 35%)
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- 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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