Question on calculation

Joined
Apr 14, 2023
Messages
12
Reaction score
0
Country
Malaysia
6 July 2018 Q

Does anyone know how to calculate this with explanations?


Monow Manufacturing provided the following information at 1 June 2017.

Machinery – Cost $18 100 – Accumulated depreciation $8 350

On 1 January 2018 a machine was sold for $3 000 cash. The machine was purchased on 1 September 2015 for $6 600 On 1 March 2018 a new machine costing $9 900 was purchased. Depreciation is charged for each month of ownership at 20% per annum on a straight line basis.

4a Calculate for the machine disposed of:
(i) the total amount of depreciation charged. - Model answer is $3080
(ii) the profit or loss on disposal - Model answer is $520
b Calculate the total depreciation charge on the machinery for the year ended 31 May 2018. Model answer is $3565
 
Joined
Apr 14, 2023
Messages
12
Reaction score
0
Country
Malaysia
How to calculate the above questions? Can anyone explain with workings?
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,453
Reaction score
334
Country
United States
Your question should have been posted in the Exams and Studying Forum. That forum has this policy:
  • Please note that if you are looking for assistance with an exam-style question, you must attempt the question yourself before asking for help. You can then state the answer you have so far and explain which aspect you need help with. Anyone posting exam-style questions expecting the answer to be given to them will have their posts removed. Repeat offenders will be banned from the forum.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

No members online now.

Forum statistics

Threads
11,686
Messages
27,657
Members
21,546
Latest member
vipliftDaupt
Top