Question

Bonita Industries Ltd., a public company, presents you with the following information:

(a)

Complete the table for the year ended December 31, 2024. The company depreciates all assets for a half year in the year of acquisition and the year of disposal. (Round answers to 0 decimal places, e.g. 5,275.)

Description		Date Purchased		Cost		Residual Value		Life in Years		Depreciation Method		Accumulated Depreciation to Dec. 31, 2023		Depreciation for 2024
Machine A		Dec. 2, 2022		$175,000		$12,000		10		select a method Double-declining-balanceWorking hoursSum-of-the-years’-digitsStraight-line		$49,000		$enter a dollar amount
Machine B		Aug. 15, 2021		enter a dollar amount		15,000		5		Straight-line		29,000		enter a dollar amount
Machine C		July 21, 2020		76,000		24,000		8		Double-declining-balance		enter a dollar amount		enter a dollar amount

eTextbook and Media

Answer 1

Answer: machine A!- Rate of depreciation as per straight line method i xl00 = 100% - Rate as per double declining balance = 2x109/.. 20% i depreciation for dec 31,2022 = $175,000 * 2004. Xom = $17500 For del 31,202.3 = $175000- $1-7500) X20*4, = $31,500 Accumulated depreciation on dec 31,2013 = $175004 $31,500 - $49000 - depreciation method is used by machine À is double-declining balance methode .: depreciation for dec 31, 20245 $175000-$49,000 JX 2006 = $25,200 =x =

machine --B! straight line method :- cost - saluage Value Depreciation expenses useful life --x100 Depreciation des per annum useful like XWO = 2007 20% x 6m 20 12.m depreciation rate for 2021 = 2021 - =10' 207 depreciation rale for 2022 and 2023 1. Tolai depreciation rate till 2023 = 10% + 20'.+ 20. - 501 : cost-- salvage value ) x 50% = $29000 -> (cost - $15000) x 50% = $29,000 =) 0.50 cost - $15000X0.50 = $29000 5) costa $ 73,000 $ 73000 – $15000 :: depreciation for dec 31,2024: 5 yeay $11,600 =

machine-a double declining balance rate as per straight line methodo xloo 12.51 ralē ay per couldle declining - 2x12-5574. 2251 - beprecigon #7 Ecc 2020 - 16000 x 22:, * * lata $ 9500 For DEC 2021.- (76000-9500) *254 z $ 16,6252 For Dec 2022. = 46000-9500m 16625) X25°/ $12,469 for Dec 2023 = (-76000-9:00–1662.5–12469) X2547 - $9352 .: Accumulated depreciation to Dec 31, 2023 9500 + $ 16,625+ $12,469 + 9936 ¿ $47,946 Depreciation for 20245 ($ 76000 - $47,946) * 2501 = $7013.5