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Question 4: a) Ibri printing company holding the following non-current assets (fixed assets): Printing machinery Cutting machinery Accounts Receivable Building Land At the end of
Question 4: a) Ibri printing company holding the following non-current assets (fixed assets): Printing machinery Cutting machinery Accounts Receivable Building Land At the end of the year, Ibri printing company charged depreciation on all fixed assets except land, why? If the company charged depreciation for the other fixed assets by using straight line method, how to calculate deprecation explain with imaginary figures? (4 marks) (Suggested: 80 - 100 words) b) A company bought on 1st January 2014 machinery for RO 85,000 and immediately spent RO 10,000 on repairs and RO 5,000 on installation. Calculate depreciation 10% p.a by using reducing balance method for five years. (6 marks)
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