Mikayla Bhd is a company that produces fresh pineapple juice. During the year, the company bought two machines to assist in producing pineapple juice. Machine A was purchased in 2 January 2021 with a cost of RM600,000. The machine is expected to be used for ten years with RM9,000 scrap value. Machine B was bought in 10 August 2021 with a cost of RM819,000. The expected useful life of Machine B is five years. Machine A is depreciated based on yearly basis and Machine B is depreciated based on monthly basis. It is the company’s policy to depreciate assets using the Straight-Line Method. Calculate the depreciation value of Machine A and Machine B for the year ended 2021.
Mikayla Bhd is a company that produces fresh pineapple juice. During the year, the company bought two machines to assist in producing pineapple juice. Machine A was purchased in 2 January 2021 with a cost of RM600,000. The machine is expected to be used for ten years with RM9,000 scrap value. Machine B was bought in 10 August 2021 with a cost of RM819,000. The expected useful life of Machine B is five years. Machine A is depreciated based on yearly basis and Machine B is depreciated based on monthly basis. It is the company’s policy to depreciate assets using the Straight-Line Method. Calculate the depreciation value of Machine A and Machine B for the year ended 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Mikayla Bhd is a company that produces fresh pineapple juice. During the year, the company bought two machines to assist in producing pineapple juice. Machine A was purchased in 2 January 2021 with a cost of RM600,000. The machine is expected to be used for ten years with RM9,000 scrap value. Machine B was bought in 10 August 2021 with a cost of RM819,000. The expected useful life of Machine B is five years. Machine A is depreciated based on yearly basis and Machine B is depreciated based on monthly basis. It is the company’s policy to
Calculate the depreciation value of Machine A and Machine B for the year ended 2021.
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