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
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 5BCRQ
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Question
8.18 please
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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