question archive Question 1: Sharjah Company purchased a factory machine at a cost of $25000 on January 1, 2018
Subject:AccountingPrice: Bought3
Question 1: Sharjah Company purchased a factory machine at a cost of $25000 on January 1, 2018. Sharjah expects the machine to have a salvage value of $5000 at the end of its 5-year useful life. Required: Prepare depreciation schedule using straight-line method: 5 Marks (CLO 1) Straight Line Method Year Depreciation Rate Annual End of year Book cost depreciation accumulated value Expense depreciation 2018 2019 2020 2021 2022