The plant and machinery at cost account of a business for the year ended 30 June...

 

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The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows: PLANT AND MACHINERY - COST $ 240,000 160,000 400,000 20X3 1 Jul Balance 20X4 1 Jan Cash-purchase of plant 20X3 30 Sep Transfer disposal account 20X4 30 Jun Balance $ 60,000 340,000 400,000 The company's policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal. What should be the depreciation charge for the year ended 30 June 20X4? The plant and machinery at cost account of a business for the year ended 30 June 20X4 was as follows: PLANT AND MACHINERY - COST $ 240,000 160,000 400,000 20X3 1 Jul Balance 20X4 1 Jan Cash-purchase of plant 20X3 30 Sep Transfer disposal account 20X4 30 Jun Balance $ 60,000 340,000 400,000 The company's policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in the years of purchase and disposal. What should be the depreciation charge for the year ended 30 June 20X4?

Answer rating: 100% (QA)

A 1 Plant held all year 240000 6000... View the full answer