Senakuta Co purchased a machine with an estimated useful life of 5 years for $34,000 on30 September 20X5. Senakuta Co
planned to scrap the machine at the end of its useful life and estimated that the scrap value at the purchase date was $4,000. On 1 October 20X8, Senakuta revised the scrap value to $2,000 due to the decreased value of scrap metal.
What is the depreciation charge for the year ended 30 September 20X9?
$7,000
Carrying amount at 1.10.X8： 34,000 - ((34,000 - 4,000) x 3/5) = $16,000
Revised depreciation charge： (Carrying amount - revised residual value)/remaining useful life=(16,000 - 2,000)/2 = $7,000
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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