Question: How to answer this question? H M N O P Q N PROPERTY, PLANT AND EQUIPMENT A W 5 The plant and machinery account for
How to answer this question?

H M N O P Q N PROPERTY, PLANT AND EQUIPMENT A W 5 The plant and machinery account for HKT construction company for the year ended 30 June 2019 us as follows: 6 7 Plant and Machinery Account 8 9 2018 E 2019 E 10 1 July Balance 9,600 31 March Transfer to disposal 800 11 account 12 13 31 Dec 2,000 30 June Balance 10,800 Bank: Purchase of 14 machines 15 11,600 11,600 16 17 18 19 20 21 The company's policy is to charge depreciation on plant and machinery at 25% each year on the straight-line basis, 22 with proportionate charges in the year of acquisition and the year of disposal. None of the assets held at 1 July 23 2018 was more than three years old. 24 25 26 Now you have to calculate the charge of depreciation for the year ended 30 June 2019 27
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
