Presented below are selected transactions for Dina Ltd for the year ended 30th June 2022...
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Presented below are selected transactions for Dina Ltd for the year ended 30th June 2022 : 30th June 2022 - Scrapped a piece of machinery that was purchased on 1st July 2012 at a cash price of $90000. The machinery had a useful life of 10 years with no residual value. 31st December 2021 - Sold a computer that was purchased on 1st July 2019 for $45000 cash. It had a useful life of 6 years with no residue value. The computer was sold for $30000 cash. Required: Journalise all entries required on 30th June 2022, including the entries to update depreciation, where applicable, on asset disposed of. Dina Pty Ltd uses straight-line depreciation. (22 marks)
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