Answer to Question #63182 in Other for claudiah montez

Question

Searches related to kiambu distributors purchased 2 machines of 1st january 2011 MK sh200000,MZ sh300000 on 1st jan 2013,MZ was disposed off for sh 96000 with the proceeds used to buy another machine MT for sh 400000.The difference was borrowed frm the bank .The business charges depreciation at 20% pa on reducing balance method for the years ended at 1st december2011,2012,2013,2014,2015.Prepare the machines account,provision for depreciation account ,Disposal account,loan account,profit and loss account extract,and the statement of financial position as at the end of each year?

Answer 1

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