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Calculate the accumulated depreciation and carrying amount

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Reference no: EM132519570

Qantas purchased a 747 aircraft on 1 January 2019, at a cost of $30,000,000. The estimated useful life of the aircraft is 20 years, with an estimated residual value of $4,000,000. Qantas purchased a building on 1 July 2018, at a cost of $30,000,000. The reducing-balance depreciation rate is 10%. The estimated residual value is $2,000,000. Qantas also purchased a new printer for $64,000 on 1 July 2018. The estimated residual value is $4,000. The printer has a useful life of six years and Qantas expects to use it for 10,000 hours. It was used 1,600 hours in the year ending at 30 June 2019 and 2,100 hours in the year ending at 30 June 2020.

Required:

Question 1: For the aircraft, calculate the accumulated depreciation and carrying amount at 30 June2019, 30 June 2020 and 30 June 2021 using the straight-line method.

Question 2: For the building, calculate the accumulated depreciation and carrying amount at 30 June2019, 30 June 2020 and 30 June 2021 using reducing-balance method.

Question 3: For the printer, calculate the annual depreciation for 2019 and 2020, using the straight-linemethod.

Question 4: For the printer, calculate the annual depreciation for 2019 and 2020, using the units-of-production method.

Reference no: EM132519570

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