On 1st January, 2020 Lohitha Pvt. Ltd., a leading manufacturing Organization purchased a huge machinery for $ 2,500,000. The machine is expected to last for 8 years. At the end of the Useful Life the Machinery is expected to be sold for $ 50,000. Find out the Depreciation for the 3rd year under Straight Line Method (SLM) and Double-Declining Balance Method (DDBM). O SLM = $ 312,500 ; DDBM = $ 344,531.25 O SLM = $ 306,250 ; DDBM = $ 468,750.00 O SLM = $ 306,250 ; DDBM = $ 344,531.25 O SLM = $ 306,250 ; DDBM = $ 351,562.50

On 1st January, 2020 Lohitha Pvt. Ltd., a leading manufacturing Organization purchased a huge machinery for $ 2,500,000. The machine is expected to last for 8 years. At the end of the Useful Life the Machinery is expected to be sold for $ 50,000. Find out the Depreciation for the 3rd year under Straight Line Method (SLM) and Double-Declining Balance Method (DDBM). O SLM = $ 312,500 ; DDBM = $ 344,531.25 O SLM = $ 306,250 ; DDBM = $ 468,750.00 O SLM = $ 306,250 ; DDBM = $ 344,531.25 O SLM = $ 306,250 ; DDBM = $ 351,562.50

Name: On 1st January, 2020 Lohitha Pvt. Ltd., a leading manufacturing Organ
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Description: On 1st January, 2020 Lohitha Pvt. Ltd., a leading manufacturing Organization purchased a hugemachinery for $ 2,500,000. The machine is expected to last for 8 years. At the end of the Useful Lifethe Machinery is expected to be sold for $ 50,000. Find

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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