Exercise 4- Extracting partial information on PP&E;: Maya Inc. has three machine

Question

Exercise 4- Extracting partial information on PP&E;: Maya Inc. has three machines. The firm uses straight line depreciation. Maya's accounting software had a glitch and now some values are missing. The CFO of the company gave you the information on the three machines as of December 31, 2017, with the hope that you can help the company find the missing values. Machine Machine B Machine C Cost 4.600 10,500 500 Residual value Useful life 750 Accumulated depreciation Annual depreciation 500 600 Required Find the missing values. Show your calculations.

Explanation / Answer

Complete schedule :

Machine A Machine B Machine C Cost 10500 4600 4950 Residual value 500 600 750 Useful life 10 8 7 Age 3 2 5 Accumlated depreciation 3000 1000 3000 Annual depreciation 1000 500 600

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