Question 1 Suppose you have organized a pharmaceutical unit under the name Heal Pharmaceutical to develop and manufacture COVID 19 vaccine on December 1, 2019 In order to strengthen your operations, you have purchased following machine and furniture Purchased a complete set of capsule manufacturing machine on December 1, 2019 having cost $5,750,000 with residual value of $475,000 and estimated useful life of 7 years Purchased furniture of $799,000 on December 15, 2019 with residual value of $75,000 and estimated useful life of 5 years Instructions Prepare depreciation schedule of capsule manufacturing machine by straight line method (half year convention) What will be the book value of capsule manufacturing machine after completion of its useful life Please work step by step in details part d and e of the question

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Question: Question # 1: Suppose you have organized a pharmaceutical unit under the name Heal Pharmaceutical to develop and manufacture COVID 19 vaccine on December 1,

Question # 1:

Suppose you have organized a pharmaceutical unit under the name Heal Pharmaceutical to develop and manufacture COVID 19 vaccine on December 1, 2019. In order to strengthen your operations, you have purchased following machine and furniture:

Purchased a complete set of capsule manufacturing machine on December 1, 2019 having cost $5,750,000 with residual value of $475,000 and estimated useful life of 7 years.
Purchased furniture of $799,000 on December 15, 2019 with residual value of $75,000 and estimated useful life of 5 years

Instructions:

Prepare depreciation schedule of capsule manufacturing machine by straight-line method (half year convention).
What will be the book value of capsule manufacturing machine after completion of its useful life?

Please work step by step in details part d and e of the question

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