Accounting-2007 | Question and Answer

Running head: ACCOUNTING-2007
ACCOUNTING-2007
Name of the Student
Name of the University
Author Note:

ACCOUNTING-20071
Table of Contents
Question 1..................................................................................................................................2
Question 2..................................................................................................................................6
Part A.........................................................................................................................................6
Part B..........................................................................................................................................7

ACCOUNTING-20072
Question 1
On 1st January, 2018
DR ($) CR ($)
Machinery A/c ($4000+$10000) $14000
Cash $14000
Machine A & Machine B purchased
On 30th June, 2018
Depreciation {(4000-200)/10+(10000-500)/10}/6 $665
Accumulated depreciation $665
Accumulated Depreciation $190
Machine A $190
Depreciation charged on machinery
Accumulated Depreciation $475
Machine B $475
Depreciation charged on machinery
On 30th June 2019
Depreciation {(4000-200)/10+(10000-500)/10} $1330
Accumulated depreciation $1330