A machine cost 40,000 on 1 January 2012. The reducing balance depreciation method is used at 25
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A machine cost £40,000 on 1 January 2012. The reducing balance depreciation method is used at 25 per cent per annum. Year end is 31 December. During 2014, it was decided that a straight line method would be more appropriate. At that time, the remaining useful economic life of the machine was seven years with a residual value of £1,500. Required: The accumulated provision for depreciation account for the years 2012 to 2014 inclusive together with the relevant statement of financial position extract on 31 December in each of those years.
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Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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