A company uses the straight line method of depreciation for all its non-current assets. On 1...
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A company uses the straight line method of depreciation for all its non-current assets. On 1 January, the company bought machinery on hire purchase. The cash price was $115 000 and the interest for the year is $19 550. The estimated useful life of the machinery is five years with no residual value. What is the charge for depreciation for the year ended 31 December? A company uses the straight line method of depreciation for all its non-current assets. On 1 January, the company bought machinery on hire purchase. The cash price was $115 000 and the interest for the year is $19 550. The estimated useful life of the machinery is five years with no residual value. What is the charge for depreciation for the year ended 31 December?
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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