Populate the Deprecation Schedule below based on the following transactions and calculate the total decline in...

 

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Populate the Deprecation Schedule below based on the following transactions and calculate the total decline in value or any balancing adjustments for the period. Note, the client wishes to maximize their decline in value deduction in the current FY2022- 23 Desktop computer. Cost $2,600. Acquired 11 October 2022. Effective life 4 years. Motor vehicle. Cost $17,000. Acquired 1 May 2023. Effective life 6 years. Used approximately 80% for income-producing purposes. Computer software. Cost $1,100. Acquired 15 October 2022. Effective life 5 years. Color photocopier. Cost $800. Acquired 19 December 2022. Effective life 8 years. Sold on 8 June for $700. . . . DE 416 Existing and New Assets. Date Item Cost OAV Rate Days Price The total decline in value Decline in Value CAV Disposals AV at SP Sale Total B/A B/A BERE Populate the Deprecation Schedule below based on the following transactions and calculate the total decline in value or any balancing adjustments for the period. Note, the client wishes to maximize their decline in value deduction in the current FY2022- 23 Desktop computer. Cost $2,600. Acquired 11 October 2022. Effective life 4 years. Motor vehicle. Cost $17,000. Acquired 1 May 2023. Effective life 6 years. Used approximately 80% for income-producing purposes. Computer software. Cost $1,100. Acquired 15 October 2022. Effective life 5 years. Color photocopier. Cost $800. Acquired 19 December 2022. Effective life 8 years. Sold on 8 June for $700. . . . DE 416 Existing and New Assets. Date Item Cost OAV Rate Days Price The total decline in value Decline in Value CAV Disposals AV at SP Sale Total B/A B/A BERE

Answer rating: 100% (QA)

To calculate the depreciation schedule for the assets and the total decline in value well first need to determine the annual depreciation expense for ... View the full answer