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Calculate the depreciation for the first year

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Reference no: EM132902925

XYZcom is a startup that builds high end BBQs for the consumer market. They commence operations (rather conveniently) on the first of July.

On the first of July they buy the equipment they need to produce their range of BBQs. The equipment they purchase is:

  1. BBQ stamping machine for $220,000
  2. BBQ Seam welder for $25,000
  3. The effective life of the equipment is 10 years.
  4. complete the below asset register.

Problem 1: Calculate the depreciation (diminishing value method) for the first year

Reference no: EM132902925

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