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On 27 February 2020 Kathy Ltd received specialised equipment that had been purchased from Cody Ltd at a price of $43,000. In order for the equipment to operate for Kathy Ltd in a way that management had specified, Cody Ltd had to add a part that would cost Kathy Ltd an additional $2,500. The equipment was transported at a cost of $1,500.
During installation of the equipment in Kathy Ltd's factory, damage was done to a wall and cost Kathy Ltd $800 to repair. On 1 March 2020 the equipment was ready to use. Kathy Ltd estimated that the equipment had a residual value of $2,000 and a useful life of 5 years. Kathy Ltd uses the straight-line method to depreciate equipment.
Question 1: The amount that Kathy Ltd should record for depreciation on 30 June 2020 is:
Select one:
a. $2,900
b. $2,733
c. $9,000
d. $3,000
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