Is all evidence the same or is some more valuable than others? Explain.
January 8, 2012
Categories: General Questions
Explain whether or not the government has been successful in its oversight of accounting fraud and abuse.
On July 1, Year 1, an entity that uses IFRS acquired equipment with a cost of $84,000 and an estimated life of 12 years. The cost of the machine included the $9000 cost of a component that must be replaced every 6 years and an initial inspection of fee of $3000. The equipment must be re inspected every 3 years at an additional cost of $3000 per inspection. The entity uses straight line depreciation. What is the depreciation expense for the year ended Dec 31, Year 1.