Professional Documents
Culture Documents
00
Less: Net book value
Cost ###
Less: accumulated depreciation ### 2,040,000.00
Gain on disposal 260,000.00
Accumulated depreciation - 2020 3,700,000.00
Add: 2021 depreciation 550,000.00
Should be accumulated depreciation - 2021 4,250,000.00
Accumulated depreciation - 2021 4,000,000.00
Related to the retirement of PPE 250,000.00
JE upon retirement
Requirement #1&2
computation Depreciation Accumulated depreciation
1-Apr-20
2020 (1,200,000-120,000)x8/36x9/12 180,000.00 180,000.00
2021 (1,200,000-120,000)x7/36 210,000.00 390,000.00
Requirement #3&4
computation Depreciation Accumulated depreciation
1-Apr-20
2020 (1,200,000) x 25% x 9/12 225,000.00 225,000.00
2021 (975,000) x 25% 243,750.00 468,750.00
2022 (506,250) x 25% 126,562.50 595,312.50
Carrying amount
1,200,000.00
975,000.00
731,250.00
604,687.50