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As at 30 June 2020, the following information was available for machine A: When...

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Accounting

As at 30 June 2020, the following information was available for machine A:

  • When purchased on 1 July 2017, cost $62,000, useful life 6 years, residual value $4,000.
  • Fair value recorded on 30 June 2019 was $40,000
  • Straight line depreciation is applied for machinery

On 30 June 2020, the amount that should be recorded for depreciation expense on machine A is:

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