Solution-Compute the companys depreciation charge for the

Compute the companys depreciation charge for the year

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Reference no: EM132477279

Fixed Assets & Depreciation

At 31 July 20X6, Apollon International had non-current assets which had cost $310,000. At the same date, the accumulated depreciation on the assets was $120,000. The company had not disposed of any non-current assets during the year to 31 July 20X7, but acquired an asset at a cost of $79,200 on 1 January 20X7.

Apollon International depreciates non-current assets at a rate of 25% per annum.

Required:

Question 1: Compute the company's depreciation charge for the year to 31 July 20X7 using:

The straight line method
The reducing balance method

Question 2: Assume that depreciation is charged from the first year of acquisition.

Reference no: EM132477279

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Compute the companys depreciation charge for the year

Reference no: EM132477279

Reference no: EM132477279

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