Electronic optical equipment was purchased and installed for $335 500 ($305 000 + $30 500 GST) on

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Electronic optical equipment was purchased and installed for $335 500 ($305 000 + $30 500 GST) on 1 July 2021. The equipment is expected to give 5000 hours of usage, after which it would be disposed of with an estimated residual value of $5500 ($5000 + $500 GST). Usage for the year ended 30 June 2022 was 2500 hours; 2023 was 2000 hours; 2024 was 500 hours. Prepare:

a a units of use depreciation worksheet to 30 June 2024 b a general journal balance day adjustment for depreciation for 30 June 2022 c an extract general ledger showing equipment and depreciation accounts to 30 June 2023, and d an extract income statement for June 2023 and balance sheet for 2024.

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Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

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Question Posted: Feb 23, 2024 03:00 PM

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Electronic optical equipment was purchased and installed for $335 500 ($305 000 + $30 500 GST) on

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Electronic Optical Equipment Depreciation a Units of Use Depreciation Worksheet Year Ending Total Ho...View the full answer

Accounting An Introduction To Principles And Practice

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