Question

One Touch Fruits and Jurces Ltd acquired
frisit processing machine in January 2016 for an
amount of GHD 60,000.00 and adopted a depreciation
policy of 20% per annum.on Straight line basis
The expected machine hours is estimated as
follows:
Year
Machine Hours
2016
2017
2018
10,000
8,000
6,000
2019
2020
2,000
1,000
At the commencement of 2018 financial yead the
directors realized that using Machine hour rates a
as basis of depreciation will result in more
appropriate presentation than the straight line.
They therefore changed the depreciation policy from
"Straight line" to "machine hours"
Required: Prepare the rele.cant extracts in the 2018
income Statement and statement of financial
position.​

Answer 1

Answer:

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