21.15 A company starts in business on 1 January 2017, the financial year end being 31 December. You are to show: (a) The equipment account. (b) The accumulated depreciation account. () The balance sheet extracts for each of the years 2017, 2018, 2019, 2020. The equipment bought was: 2017 1 January 1 machine costing £800 2 machines costing £1,200 each 1 October 1 machine costing £600 1 machine costing £1,400 2018 1 July 2020 1 April Depreciation is over 10 years, using the straight line method, machines being depreciated for the proportion of the year that they are owned.

21.15 A company starts in business on 1 January 2017, the financial year end being 31 December. You are to show: (a) The equipment account. (b) The accumulated depreciation account. () The balance sheet extracts for each of the years 2017, 2018, 2019, 2020. The equipment bought was: 2017 1 January 1 machine costing £800 2 machines costing £1,200 each 1 October 1 machine costing £600 1 machine costing £1,400 2018 1 July 2020 1 April Depreciation is over 10 years, using the straight line method, machines being depreciated for the proportion of the year that they are owned.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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