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A machine (fixed asset) will be used starting January 1, 2011; acquisition cost of IDR 50,000,000; useful life 5 years; without residual value; depreciated using the straight-line method. So, the annual depreciation is 10 million. As of December 31, 2013, the machine's carrying value was Rp.20,000,000. On that date, the company conducted a review of the asset value. This review results in an estimate that the recoverable amount is Rp.15,000,000.
Requested :
Problem 1: Calculate the depreciation of the machine, make an adjustment journal and calculate the annual depreciation for the remaining useful life of the machine above.
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