A new computer was purchased on 31 October 2021 for $5445 ($4950 + $495 GST) with nil
Question:
A new computer was purchased on 31 October 2021 for $5445 ($4950 + $495 GST) with nil residual value. It is to be depreciated at 33.33% p.a. using the straight line method, with year end being 30 June. Prepare:
a a time line for the computer to 30 June 2025 b the straight line depreciation worksheet to 30 June 2025, and c general ledger extracts for the asset and appropriate depreciation accounts to 30 June 2025.
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A Timeline for Computer Purchase and Depreciation Date Event Period 31 Oct 2021 Purchase of computer ...View the full answer
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Related Book For 
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
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