User Account

All Pages

Calculate cost of depreciation for year

Assignment Help Accounting Basics
Reference no: EM133171842

Question - Focus Eye Bhd purchased an auto-refractor to be used during an eye examination on 1 January 2020 for RM36,000. It is estimated that the equipment will be used for 10 years and it could be sold at the end of useful life for RM4,000 (scrap value/residual value). Accounting period was 31 December every year.

i. Using straight line method, calculate the cost of depreciation for year 2020 and prepare journal entries.

ii. If the equipment was acquired on 1 July 2020 calculate cost of depreciation for year 2020 if based on monthly basis prepare journal entries.

Reference no: EM133171842

Questions Cloud

Prepare journal entries to record the purchase of the assets : Prepare journal entries to record the purchase of the assets and to record depreciation expense on 30 June 2018 and 2019, the end of company reporting periods
Increase retention of employees : If you became the new manager at a restaurant with high employee turnover, what actions would you take to increase retention of employees?
Information about job context and environment : How would you gather information about the job context and environment? How could you use technology to show the positive and negative aspects of the job.
Journalize the foregoing transactions : Journalize the foregoing transactions including issuance of certificates using Memorandum method and Journal entry method
Calculate cost of depreciation for year : If the equipment was acquired on 1 July 2020 calculate cost of depreciation for year 2020 if based on monthly basis prepare journal entries
Patient protection and affordable care act : Compare and contrast approval/payment from the Patient Protection and Affordable Care Act (PPACA), commercial insurance,
Difference between training and career development : What is the difference between training and career development? Of these two concepts, which is more likely to increase retention in an organization? Why?
Calculate allowance for doubtful debts : On 31 December 2020, the total account receivable for Beauty Enterprise is RM30,000, 5% of these debts. Calculate Allowance for Doubtful Debts
Eliminate social inequality : Reflect on social inequality and how active you think a company should be as far as helping to eliminate social inequality.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd