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On January1,2015, Techno Plates purchases a Machinery on Bank Loan for $400,000 which has an expected useful life of11 years and an estimated residual value of $15,000. What would the accumulated depreciation be on June30,2021, assume that the company uses straight-line method for depreciation?
Using Straight Line: 400,000 -15,000 /11
=35,000 Per Year Depreciation Charge
So, from2015 to2020 -6 Years =35,000 @6 Years =210,000
And from to -6 Months =35,000 /12 *6 =17,500
So, the Total Acc. Dep =210,000 +17,500
=227.500
Iam agree with the answer of Madam Mansi Sathaye and Mr Ramzan Tufail
annual depreciation = =385000
385000/11 =35000
the depreciation consumed is6.5 year
accumulated =35000*6=210000
half of year =35000/2 =17500
total =210000+17500 =227500
Cost of Machinery = $400,000.
Residual Value after11 Years = $15,000.
Expected useful life of Machinery =11 Years.
Date of purchase :01.01.2015 and Accumulated Depreciation required up to :30.06.2021.
The machinery cost already depreciated is $385,000 ( $400,000 - $15000 )
Method of depreciation is : SLV Method.
If depreciation is provided on yearly basis then the answer is $210,000.
if depreciation is calculated up to30.06.2021, then the answer is $227,500.
But the question is that what would be the accumulated depreciation as on30.06.2021 i.e. for06 years and06 months. Hence the Correct Answer is : $227,500.
dep = asset cost - residual cost / expected life * period
i.e. () /11 *6.5 =227500
The accumulated depreciation will be Tk.227,500. it is calculated for6 year6 month. per year depreciation is Tk.35,000/-
the accumulated depreciation is236364
Correct Answer Is
35000 Per Year
Total years=6.5 yrs
then the depreciation value for6.5 yrs will be6.50*35000=227500
Asset price = $400,000
residual value = $15,000
useful life =11yrs
$400,000-150,000/11 = $35,000*6+ ($35,000/2)
Accumulated depn =$210,000+$17,500 = $227,500
note: jan1,2015 - june30,2021 =61/2yrs
The accumulated depreciation on June30,2021 will be227,500.
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