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Question: asset register card depreciation worksheet chrisco textiles pty ltd...

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ASSET REGISTER CARD

Depreciation Worksheet – Chrisco Textiles Pty Ltd.

Asset Cost:  $25,000

Asset Name: New Textiles Equipment  

Less: Residual Value:

Depreciable Amount:

$

Depreciable method:              Date Sold: 

Depreciation p.a.                                                Disposal Proceeds: $

Date

Book Value at Start

Depreciation

Accumulated

Depreciation

Book Value at End

       

 

         
         
         
 

 

 

 

 

 

 

 

 

 

 

Depreciation on textile equipment should be calculated using the straight line method

Your task is to:

  1. Create and maintain a detailed Asset Register Card with complete depreciation schedule for the above fixed assets.
    1. Record the depreciation and disposal of the non-current assets as per the above organisational procedures and policy information
    2. Complete the general journal entries for the disposal of assets along with recording of profit/loss on sale of the asset

To assist with completing the Asset Register Care, you will need to: 

  • Calculate depreciation on the computer equipment for the financial years ended 30 June 2015, 2016 and 2017.

Notes: 

  • The computer equipment has been sold during the year on 30/9/2017 for $18000 plus GST. 
  • The rate of depreciation is 30%.
  • Calculate depreciation for the financial years ended 30 June 2015, 2016 and 2017 for the textile equipment.

Note:

 

  • The useful life of the machinery is 5 year

FILL IN THE TABLE 

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