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Calculate the correct net book value of the machine

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Reference no: EM133008250

Question - Angela purchased a machine for her business on 1 March 20X1 for $12,000. She incurred additional costs for transportation of $1,300 and installation of $2,000. Shortly after she started to use the machine, it broke down and the repairs of the machine cost $600. Angela charges depreciation at 10% per annum on straight line basis with a full year's charge in the  year of acquisition.

Required - Calculate the correct net book value of the machine at the year-end date of 31 December 20X1.

Reference no: EM133008250

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