On 1 July 2020 Tom bought a machine for P15, 500. He depreciates machinery at a rate
Fantastic news! We've Found the answer you've been seeking!
Question:
On 1 July 2020 Tom bought a machine for P15, 500. He depreciates machinery at a rate of 20% per annum on the reducing balance basis. A full year’s depreciation is charged in the year an asset is purchased. His year end is 31 October.
Required:
a. Calculate the depreciation charge on the machine for the year to 31 October 2022.
b. Identify three reasons why an asset may be depreciated.
Expert Answer:
a To calculate the depreciation charge on the machine for the year ending 31 October 2022 we need to ... View the full answer
Related Book For 
Posted Date:
