Question 2 XYZ company purchased machine from Japan by 50,000 dhs , it also paid...
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Accounting
Question 2
XYZ company purchased machine from Japan by 50,000 dhs , it also paid 7000 for insurance , 8000 for shipment , 6000 for Abu Dhabi custom, 3000 for installation , 2000 for the office boy salary. The expected life of the machine is 5 years and the expected salvage is 10,000 . salvage sold at 12,000. Required : using straight line method calculate ;
1- Total cost of the machine
2- Annual depreciation
3- Machine purchase entry
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