Question: 2 We Do It Right has been in operation for a few years and its financial year ends on December 31. It provided the following
2 We Do It Right has been in operation for a few years and its financial year ends on December 31. It provided the following information in its non-current assets register on January 1, 2022. Machinery Cost Date of Purchase Machine A $49,000 April 1, 2019 Machine B $60,000 Sept 1, 2020 Vehicles Cost Date of Purchase Suzuki $50,000 January 1, 2019 Toyota $80,000 October 1, 2021 Machinery is depreciated on cost at a rate of 10% per annum, with months of ownership being considered in the year of purchase and sale. Vehicles are depreciated on a reducing balance basis at a rate of 30% per annum, on assets in existence at the end of
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