On 1 January 2019, a company which prepares financial statements to 31 December each ...
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Accounting
| On 1 January 2019, a company which prepares financial statements to 31 December each |
| year buys a machine at a cost of 46,300. The machine's useful life is estimated at four |
| years with a residual value of 6,000. The machine is expected to achieve 50,000 units of |
| production over its useful life, as follows: |
| 2019 2020 2021 2022 |
| Number of units 10,000 20,000 15,000 5,000 |
| Calculate depreciation charges for each of these four years using: |
| (a) the straight-line method |
| (b) the diminishing balance method (at a rate of 40%) |
| (c) the units of production method. |
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