1. Company A buys a piece of equipment for K10,500. The equipment has an expected
life of 10 years and a salvage value of K500. Company
A uses diminishing balance method
to calculate depreciation. Required:
a) Calculate Depreciation Rate - 5 marks
b) Prepare depreciation schedule -10 marks
c) Pass necessary Journal entries -10 marks
d) Prepare Machine account - 10 marks
e) Prepare Depreciation account - 10 marks
what is the calculation of depreciation using the diminishing method

Question

15-07-2024
Business

Answered

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1. Company A buys a piece of equipment for K10,500. The equipment has an expected
life of 10 years and a salvage value of K500. Company
A uses diminishing balance method
to calculate depreciation. Required:
a) Calculate Depreciation Rate - 5 marks
b) Prepare depreciation schedule -10 marks
c) Pass necessary Journal entries -10 marks
d) Prepare Machine account - 10 marks
e) Prepare Depreciation account - 10 marks
what is the calculation of depreciation using the diminishing method

Sagot :

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