Question: How to compute each item in the two given Problems? Kindly make solutions on each items to justify and clarify the answer. On January 1,
How to compute each item in the two given Problems? Kindly make solutions on each items to justify and clarify the answer.
On January 1, 2021, a company acquired machinery for 2,382,000 with an estimated residual value of 150,000. The has machinery has a useful life of 30 years, and depreciated using sum of the years digit. On February 28, 2021, a company Compute: 1. Depreciation for 2021 acquired a building for 88,850,000 2. Depreciation for 2045 3. Accumulated depreciation as of December 31, that has a useful life of 50 years with 2036 no residual value, and depreciated 4. Accumulated depreciation as of December 31, 2040 using straight-line method. 5. Carrying amount of the machinery on Compute: December 31, 2047 1. Annual depreciation 2. Accumulated depreciation on December 31, 2030 3. Accumulated depreciation on December 31, 2042 4. Carrying amount of the building on December 31, 2049 5. Carrying amount of the building on December 31, 2060