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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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