Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please show the calculation!! Question 1 ABC Lad started business on January | 2014, and its financial year end on December 31 cach year. It

please show the calculation!!
image text in transcribed
Question 1 ABC Lad started business on January | 2014, and its financial year end on December 31 cach year. It had th following Machinery as at December, 2018 5 2014 January 1, bought one machine costing 13,000 2015 June 30, bought one machine casting 78,000 2015 October 1. bought two machines conting 10,400 each 2017 April 1, bought one machine costing 52.000 2018 Morch I bought two machines 11.700 each The compuny's policy is to depreciate assets at a rate of 15% per annum using straight line method on a one month ownership basis Required: prepare the following: Statement of depreciation accounts b. Machine account and c. Provision for depreciation account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Managerial Accounting

Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen

8th edition

1259917061, 978-1259917066

Students also viewed these Accounting questions