In January $2017,$ Saint Peter Pharmacy bought machinery for $$48,000.$ It was decided that this machinery should be depreciated using the straight$-$line method over a period of $10$ years with an estimated residual value of $$4,000.$ On $1$ January $2019,$ the directors decided to change the method of depreciation for the remaining life of the asset to $25\%$ reducing balance.

$$ Calculate the depreciation charge for the year ended $31$ December $2019$

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To calculate the depreciation charge for the year ended on 31 December 2019 using the straightline m... View the full answer