Prepare Ledger Accounts For Machinery And Income Statement Showing Depreciation Expense

Question

On 1 July, 2007 Voicestar Ltd purchased factory machinery at a cost (including GST) of $11,000. Depreciation is to be provided on a reducing balance basis at 25% per annum.

Required

(a) Depreciation schedule tocover the years ended:

(i) 30 June 2008

(ii) 30 June 2009

(b) Ledger accounts for Machinery, Accumulated Depreciation of Machinery and Depreciation expense to 30 June 2009.

(c) Income Statement (extract) showing Depreciation Expense and Balance Sheet (extract) showing Machinery on 30 June 2009.

 

Summary

The question belongs to Accounting and it discusses about preparing ledger accounts for machinery and depreciation for machinery for a small business.

Total Word Count NA

Download Full Solution

Comments

  • HWA
    Rasha

    this is a very good website

  • HWA
    maani

    I have 50 questions for the same test your page is showing only 28

  • HWA
    joeanne

    hi can you please help or guide me to answer my assignments. thanks

  • HWA
    joeanne

    hi can anyone help or guide me to my assignments. thanks

  • HWA
    Monik


  • HWA
    Cristina

    This solution is perfect ...thanks

  • HWA
    Janete

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA
    Sandeep

    Perfect bank of solution. 

  • HWA
    Oxana

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA
    Giuseppe

    works fine.