Question 2XYZ company purchased machine fromJapan by 50,000 dhs , it also paid 7000 forinsurance , 8000 for shipment , 6000 forAbu Dhabi custom, 3000 for installation,2000 for the office boy salary. The expectedlife of the machine is 5 years and theexpected salvage is 10,000. salvage sold at12,000. Required : using straight linemethod calculate;1- Total cost of the machine2- Annual depreciation3- Machine purchase entry

The procedure of entering commercial transactions for the first time in the books of accounts is…

Answered: XYZ company purchased machine from…

XYZ company purchased machine from Japan by 50,000 dhs , it also paid 7000 f insurance , 8000 for shipment , 6000 for Abu Dhabi custom, 3000 for installation 2000 for the office boy salary. The expec

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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