On 1 July, 2007 Voicestar Ltd purchased factory machinery at a cost (including GST) of $11,000. Depreciation

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On 1 July, 2007 Voicestar Ltd purchased factory machinery at a cost (including GST) of $11,000. Depreciation is to be provided on a reducing balance basis at 25% per annum.

Required:

(a) Depreciation schedule to cover the years ended:

(i) 30 June 2008

(ii) 30 June 2009

(b) Ledger accounts for Machinery, Accumulated Depreciation of Machinery and Depreciation expense to 30 June 2009.

(c) Income Statement (extract) showing Depreciation Expense and Balance Sheet (extract) showing Machinery on 30 June 2009.

Related Book For answer-question

Fundamentals of corporate finance

ISBN: 978-0470876442

2nd Edition

Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates

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Posted Date: Nov 23, 2017 06:52 AM

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On 1 July, 2007 Voicestar Ltd purchased factory machinery at a cost (including GST) of $11,000. Depreciation

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a Depreciation Schedule Asset Name Price year of purchase Charge for the year 2008 2009 Factory Mach... View the full answer

Fundamentals of corporate finance

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