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.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 39E: Exercise 1-39 Current Assets and Current Liabilities Hanson Construction has an operating cycle of...

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