Question
On March 1 you had installed a new printing machine, at a cost of $269,500 ($245,000 + $24,500 GST). The costs involved in installing the
On March 1 you had installed a new printing machine, at a cost of $269,500 ($245,000 + $24,500 GST). The costs involved in installing the machine came to $16,500 ($15,000 + $1,500 GST). The machine has a useful life of 5 years, and a zero residual value. You are going to use the straight line method for depreciation. The total of your accumulated depreciation account at the end of the second financial year June 30 would be:
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
1st Canadian Edition
