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Question - On 1 July 2018, Johnston Ltd purchased a machine with a list price of $250,000. Freight costs of $5,000 and installation costs of $2,500 were also paid in cash. The machine has a useful life of 4 years and a residual value at the end of its useful life of $25,000.
Required -
Determine the amount that should be debited to the machinery account and prepare a general journal entry to record the purchase.
Determine the amount of depreciation expense for the year ending 30 June 2019 assuming use of the straight-line depreciation method.
Make a journal entry to record depreciation expense for the year ending 30 June 2019 under the straight-line depreciation method.
the correct journal entries that should have been made if lapping had not occurred
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The company has ample spare capacity for producing the special order. Find the annual financial advantage (disadvantage) for the company
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The above original group includes the assets sold in 20x8 but not the assets purchased in 20x8. How much is the depreciation in 20x8
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nitsu manufacturing corporation is preparing the annual financial statements for the stockholders. a statement of cash
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