Chapter (9) Practices Q1: On January 1, 2003 Baghdad Company purchased a machine for ID 22000. The company expects the service live of the machine to be five years and it will be worth ID 2000 at the end of its five-year service life. During that time, it is expected that the machine will produce 100000 units Actual production during the five years of the asset's life was: Year Units produced 2003 22000 2004 24000 2005 15000 2006 20000 2007 21000 Total 102000 Required: Calculate annual depreciation for the five- year life of the machine by using of the following methods. (Round all computations to the nearest Iraqi dinner). 1- Double declining balance method. 2- Sum-of-the-years digits. 3- Units of production method.

Chapter (9) Practices Q1: On January 1, 2003 Baghdad Company purchased a machine for ID 22000. The company expects the service live of the machine to be five years and it will be worth ID 2000 at the end of its five-year service life. During that time, it is expected that the machine will produce 100000 units Actual production during the five years of the asset's life was: Year Units produced 2003 22000 2004 24000 2005 15000 2006 20000 2007 21000 Total 102000 Required: Calculate annual depreciation for the five- year life of the machine by using of the following methods. (Round all computations to the nearest Iraqi dinner). 1- Double declining balance method. 2- Sum-of-the-years digits. 3- Units of production method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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