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8.18 Evans Co purchased a machine with an estimated useful life of ten vears for $76,000 on 30 September 20X5. The machine had a residual value of $16,000. What are the ledger entries to record the depreciation charge for the machine in the year ended 30 September 20X8? 000. DEBIT Depreciation charge CREDIT Accumulated depreciation A $6,000 $6,000 B DEBIT Depreciation charge DEBIT Non-current assets $6,000 $12,000 CREDIT Accumulated depreciation $18,000 DEBIT Accumulated depreciation CREDIT Depreciation charge C $6,000 $6,000 D DEBIT Accumulated depreciation $18,000 CREDIT Non-current assets $18,000

8.18 Evans Co purchased a machine with an estimated useful life of ten vears for $76,000 on 30 September 20X5. The machine had a residual value of $16,000. What are the ledger entries to record the depreciation charge for the machine in the year ended 30 September 20X8? 000. DEBIT Depreciation charge CREDIT Accumulated depreciation A $6,000 $6,000 B DEBIT Depreciation charge DEBIT Non-current assets $6,000 $12,000 CREDIT Accumulated depreciation $18,000 DEBIT Accumulated depreciation CREDIT Depreciation charge C $6,000 $6,000 D DEBIT Accumulated depreciation $18,000 CREDIT Non-current assets $18,000

FINANCIAL ACCOUNTING
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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8.18 please
(2 mar $40,000 $52,500 $40,000 $62,500 A B. D the scrap value to $2,000 due to the decreased value of scrap metal. What is the depreciation charge for the vear ended 30 September 20A9 $7,000 $6,800 $2,800 $6,400 (2 marks) bopen of asio 1 0.10 Evans CO purchased a machine with an estimated useful life of ten vears for $76,000 on 30 September 20X5. The machine had a residual value of $16,000. What are the ledger entries to record the depreciation charge for the machine in the year ended 30 September 20X8? 000,e12 DEBIT Depreciation charge CREDIT Accumulated depreciation $6,000 $6,000 DEBIT Depreciation charge DEBIT Non-current assets $6,000 $12,000 CREDIT Accumulated depreciation $18,000 DEBIT Accumulated depreciation CREDIT Depreciation charge ahen S $6,000 $6,000 DEBIT Accumulated depreciation $18,000 CREDIT Non-current assets biud ebosoug $18,000 t000 000, 8.19 Banter Co purchased an office building on 1 January 20X1. The bui' was depreciated by the straight line method at 2% per year, assur value. The building was re-valued to $2,250,000 on 1 The excess depreciation charge will be transferred f year. The company's financial year ends on 31 F What is the balance on the revaluation surp 24 8.17 Co a with an useful life of five for on 30 20X5. Co to at the end of its useful life and estimated that the at the date was On 1 20X8, revis
Transcribed Image Text:(2 mar $40,000 $52,500 $40,000 $62,500 A B. D the scrap value to $2,000 due to the decreased value of scrap metal. What is the depreciation charge for the vear ended 30 September 20A9 $7,000 $6,800 $2,800 $6,400 (2 marks) bopen of asio 1 0.10 Evans CO purchased a machine with an estimated useful life of ten vears for $76,000 on 30 September 20X5. The machine had a residual value of $16,000. What are the ledger entries to record the depreciation charge for the machine in the year ended 30 September 20X8? 000,e12 DEBIT Depreciation charge CREDIT Accumulated depreciation $6,000 $6,000 DEBIT Depreciation charge DEBIT Non-current assets $6,000 $12,000 CREDIT Accumulated depreciation $18,000 DEBIT Accumulated depreciation CREDIT Depreciation charge ahen S $6,000 $6,000 DEBIT Accumulated depreciation $18,000 CREDIT Non-current assets biud ebosoug $18,000 t000 000, 8.19 Banter Co purchased an office building on 1 January 20X1. The bui' was depreciated by the straight line method at 2% per year, assur value. The building was re-valued to $2,250,000 on 1 The excess depreciation charge will be transferred f year. The company's financial year ends on 31 F What is the balance on the revaluation surp 24 8.17 Co a with an useful life of five for on 30 20X5. Co to at the end of its useful life and estimated that the at the date was On 1 20X8, revis
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