in following 3 cases calculate depreciation, record journal entry and show the net book value...
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in following 3 cases calculate depreciation, record journal entry and show the net book value as on December 31, 2020 a. Machine cost $ 24000 purchased on 1 April 2020 scrap value 0 . Depreciation is charged from date of purchase to last day of year. Life 5 years. Straight line depreciation. b. Furniture cost $10000 Accumulated depreciation $4000 Depreciation rate 20% declining balance method. c. Equipment purchased on 1 August, 2020 $ 30000. Declining balance method. Depreciation rate 40%. Depreciation is charged for full year irrespective of date of purchase . (
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