Puritanism and Pragmatism Essay - 705 Words

Although they lived on the same continent, John Winthrop and Benjamin Franklin lived in very different worlds. These men are similar in some respects, but overwhelmingly they are different. For example, John Winthrop and Benjamin Franklin can be considered leaders in their time frame. Winthrop led the Puritans; Franklin led his country to war. Both men also possessed many of the same virtues such as patience and work ethic. Despite these similarities, John Winthrop and Benjamin Franklin had a different style of living and a different philosophy of life. These differences are most notable in regards to religion, economics, and science. nbsp;nbsp;nbsp;nbsp;nbsp;Perhaps the greatest difference between Winthrop and Franklin was their†¦show more content†¦Franklin’s view of religion was not, â€Å"the worship of God or even salvation, but humankind’s well-being on earth† (57). Certainly, the religious philosophies of Winthrop and Franklin contrasted greatly. nbsp;nbsp;nbsp;nbsp;nbsp;Another difference between these two men was their views on money. The economic growth of the region contributed to the downfall of Puritanism and the overall change of Boston. Nash and Graves write, â€Å"The ninety years that separated Winthrop’s Boston from Franklin’s had witnessed a gradual erosion of spiritual energies. The initial New England ideal of a closely knit, covenanted community proved difficult to maintain in the face of economic growth† (52). The region began to grow not only in population, but also in prosperity. The Puritans were expected to support the church by giving money to their ministers. The later generations born in Massachusetts Bay were more interested in keeping their wealth than fearing the wrath of God. New England merchants were accused of making too much money; they began to want relief and freedom from â€Å"the straitjacket of Puritanism.† The life of Benjamin Franklin is a typically rags-to-ric hes story. He knew that hard work would pay off in the end, and â€Å"by the age of forty-two he had accumulated sufficient wealth to reach his goal of the ‘free and easy life’† (54). Unlike Winthrop, Franklin believed that the money one earns is rightfully his own. Winthrop’s and Franklin’s economicShow MoreRelatedPuritanism and Pragmatism Essay728 Words   |  3 Pagesto establish Winthrops city upon a hill, was the need for the people to obey their governors and for the governors to obey God. If they did, God would adopt and protect the wilderness colony as He had the ancient Jews (Nash Graves 31). Puritanism reflects the notion of pre-destination, indoctrinated by Calvinism, in which there are only two kinds of people: the elect and the non-elect. The elect were the people, usually ministers and high-ranking officers, who have been chosen by God toRead MoreFranklin: Puritan or Enlightenment? Essay868 Words   |  4 Pageslove work for man# 161;#175;s salvation, but as for man. All he could do (if ever there was anything he could do) was to worship the Almighty and hope had been handed down and been very much alive on the contrary. It#161;#175;s safe to say that Puritanism was still much prevailing at that time and even the enlightenment thinkers themselves carried much the puritan belief. Analysis The Autobiography of Benjamin Franklin represented most of the enlightenment ideas of his. However, it also includesRead MoreThe American Culture : Key Values10736 Words   |  43 PagesThe American Culture Some Key Values †¢ Individuality †¢ Results orientation †¢ Pragmatism †¢ Direct communication style Greetings and Goodbyes For most Americans a smile and verbal greeting are appropriate. In a business context, however, a firm handshake is used. Weak handshakes can be perceived as a sign of weakness. It is likely the handshake will be brief. Men usually wait for women to offer their hand before shaking. Also, direct eye contact is also appreciated. Americans tend to dislike over-formalised

Annie Leibovitz Biography and Image Sample Analysis Free Essays

Annie Leibovitz is a famous American portrait photographer and is best known for taking extraordinary and yet unique photos of celebrities. She is one of the most demanded photographer for celebrity pictures and became a celebrity herself that way. Most of the photographs she taken have been featured mostly in magazines such as Rolling Stones, Vanity Fair and Vogue. We will write a custom essay sample on Annie Leibovitz Biography and Image Sample Analysis or any similar topic only for you Order Now Leibovitz has always been interested in the arts since a young age. Her mother was a dance instructor and influenced her to take dance classes not only from her, but from many other teachers. In high school she focused in music. She specialized in the guitar and wrote numerous songs, eventually becoming the head of her schools’ folk sing club. When she attended university however, she took an interest in visual arts and considered being a painting instructor as a career. It wasn’t until her family was stationed in the Philippines (her father was an Air Force lieutenant colonel) and a trip down Japan, that she was awestruck by the wonderment of photography. When she went back to school, she took night classes for photography. â€Å"A thing that you see in my pictures is that I was not afraid to fall in love with these people.† – Annie Leibovitz. This quote is a little look of how she sees her images, and how much she loves what she takes. Indirectly she also means that we should love what we take pictures of because what’s the point of making others like a photograph you don’t like. Photograph One â€Å"Where Romance is Celebrated† (2009) This is a photograph featuring Zac Efron as Prince Philip and Vanessa Hudgens as Princess Aurora in the Disney film, Sleeping Beauty, recreating the awakening kiss scene. This is one of the many photographs Leibovitz took for Disney Parks â€Å"What will you Celebrate?† campaign portraying highlight movie moments of different Disney animations. The atmosphere of the photograph is enchanting and the gesture of the two faces together is quite romantic. The costumes and make up enhances the features of the models, making them look too perfect. The dark background and roses make the photo also very surreal; almost fairy tale-like. In this photograph the roses and the bed frames around Efron and Hudgens to make emphasis on them together. Leibovitz also uses Rule of Thirds to make their faces the centre of interest. She uses artificial lighting above them making an angelic effect and intensely shines on the princess’s face, making her complexion paler thus contrasting with the dark background. Photograph Two â€Å"John Lennon and Yoko Ono† (1980) In this photograph is the last photograph ever taken of John Lennon embracing Yoko Ono naked on a bed before he was assassinated. It is an intimate moment between the two; holding each other tenderly while he’s giving her a kiss displays their deep love for one another. The bareness and position he is in also displays the vulnerability of human passion. The one evident compositional element is making John Lennon the centre of interest, by making the eye focus on him because he’s curled up in a ball or fetal position. Also Yoko’s black clothing contrasts Lennon’s light skin. Leibovitz uses natural lighting, but since this is on of her earlier photographs the lighting is nothing to creative and simple. Conclusion and Legacy In the being the majority of her images were in black and white because of her lack of education, but later self taught herself about colour development and uses that more often. Leibovitz approach to taking her images is unexpected and out of the box; one never really knows what her next piece will turn out. She captures her effects with artificiality, flair and outrageousness that makes her artwork different from other portrait photographers. Generally she doesn’t really care about other’s opinions on how to take photos and often gets in trouble by the media by doing things that might offend other people. But all in all, we should admire her genius as a photographer and her â€Å"risk taking† attitude on how to interact with her subjects and audience. I first got interested in Leibovitz because of the Miley Cyrus incident and the work we went over in class, she truly is fascinating in how she see celebrities in such unusual poses. Out of the two photographs that I chose in this essay, the one I like the most is â€Å"Where Romance is Celebrated† because the Disney series are my favorite works by her. I just can’t help loving and reminiscing my childhood. How to cite Annie Leibovitz Biography and Image Sample Analysis, Essay examples

Accounting Principle and These Problems

Questions: Problem 1: Income Statement The financial controller for Red Rider Sports Ltd was stranded in the Philippines because of a recent typhoon. Their new financial accountant had to prepare financial statements for the fiscal year ending 30 June 2014 for management. Below is a draft of the income statement prepared by the financial accountant. Red Rider Sports Ltd Income Statement Sales 2,550,500 Expenditures and Costs Cost of Goods Sold 1,020,200 Advertising Expense 127,000 Bank Service charges 2,200 Auto Truck Expense 6,200 Salaries Wages Expense 850,000 Credit Card Discount Expense 49,000 Depreciation Expense 10,000 Dividends Paid 25,000 Telephone Expense 7,200 Travel Expense 5,500 Utilities Expense 16,800 Office Expense 7,800 General Liability Insurance 14,200 Purchase Discounts 40,800 Rent Expense 60,000 Repairs Maintenance 4,800 Supplies Expense 2,400 Sales Returns 76,000 Sales Discounts 100,500 Total Expenses and Costs 2,425,600 Profit from Operations 124,900 The individual amounts above are correct; however, some of the amounts are not reported correctly. The income statement was not acceptable per management and they sent the draft to you for editing. Required:a. Prepare an appropriate income statement for the year ending 30 June 2014. Include percentages for each line item based on gross sale.b. Compare your income statement with the draft and explain the differences to management.c. If Red Rider Sports Ltd credit card fee is normally 2.2% credit card sales, what were the dollar amounts of their (1) cash sales and (2) their credit card sales? Problem 2. Depreciation Tong Manufacturing Ltd. started in Jan 2011, and has a fiscal year end of 30 June. The new CFO of Tong Manufacturing needs an updated depreciation schedule following the format show below. The information is needed in this format to compare with old depreciation software and to input your data into the new software. The format and the list of depreciable assets are on the following page. Your calculations will also be used as supporting schedules for the year-end financial audit beginning in July of 2014 for fiscal year ending 30 June 2014. Tong Manufacturing Ltd purchased machine Model 502 on 1 October 2012. The machine was not ready for full production until 1 January 2013. Information that may be needed for your depreciation calculations is as follows: Machinery 502: Purchase Price 90,000 Shipping in 7,500 GST 9,000 Set up Preparation 2,600 Set up Costs 12,000 Trial run costs 3,500 Interest cost during set up 400 Residual value 10,000 Repair damage during installation 3,500 Estimated useful life: 8 years or 50,000 units Units of production Year: Jan-June 2013 3500 units Units of production 2013-14 8500 units Residual value: $ 10,000 Machinery 501: Estimated useful life: 8 years or 24,000 units Units of production 2011 2,000 units 2011-12 4,000 units 2012-13 3,500 units 2013-14 3,500 Residual value: $ 3,000 Required:a. Prepare a worksheet in good form showing the capitalised cost of Machine 502 and explanations for any amounts you did not use.b. Prepare a supporting worksheet with your calculations for each asset on the depreciation schedule to show the CFO how your calculations were prepared. Show the depreciation calculations for each asset for each fiscal year. (You must show how you calculated the reclining balance rates.)c. Create and complete the depreciation schedule with the numbers from your supporting worksheets. Tong Manufacturing Ltd Depreciation schedule for fiscal year 2013-2014 Cost Prior Prior Year Deprec. Deprec Current Yr Asset Description Date Basis Residual Accum. Book Value Life Yrs Method Deprec. Value Deprec. Carry Amt or unit Expense Building 1 Jan 2011 550,000 100,000 20 SL Land 1 Jan 2011 190,000 5 desks 1 Jan 2011 7,500 - 20 SL 5 computers/monitors 1 Jan 2011 6,000 900 6 RB 1 computer server 1 Jul 2011 2,500 375 6 RB Server Cabinet 1 Jul 2011 1,500 - 10 SL Machinery 501 1 Jan 2011 45,000 3,000 24,000 UOP 3 desks 1 Jul 2012 4,800 - 20 SL 5 chairs 1 Jul 2012 1,250 - 10 SL 3 computers 1 Jul 2012 3,600 540 6 RB Reception Desk 1 Jul 2012 4,500 - 10 SL 2012 Nissan delivery Van 1 Jul 2012 46,750 5,000 6 RL Machinery 502 10,000 UOP Totals 863,400 119,815 SL = straight line; RB = reducing balance; UOP = units of production Problem 3. Loan Amortisation WXYZ Ltd has purchased a 2014 Nissan delivery truck. The accounting department needs to record the monthly principal payments and interest expense. The fiscal year end for WXYZ Ltd is 30 June. Information from the dealers sales ticket: Base Price: 65,000 Rear Tow bar: 400 Heavy Duty Front bumper: 1,500 Company Name printed on the side 600 Navigation System Stereo 935 Alarm System 235 GST 6,867 Total 75,537 Months 60 Interest rate: 5% annually Interest calc: monthly Monthly Payment Purchase date: 1 September 2014 First Payment due: 1 October 2014 Final Payment: 1 September 2019 Fiscal year end: 30 June Down Paymen $ 10,000 Amount Financed Required:a. Calculate the amount needs to be capitalised?b. Calculate the amount that needs to be financed?c. Prepare the journal entry to record the purchase of the truck.d. Create an amortisation schedule that shows each monthly payment. Include the principal and the interest portions of each payment and the ending balance of the loan after each payment. Also, include the amount of principal, interest, total payments for each fiscal year. e. Create the monthly depreciation entry using reducing-balance method so your staff can record depreciation expense each month. Expected residual value of the truck is $7,000 and has an expected useful life is 8 years. Show your complete calculation and round to the nearest whole dollar. Answers: Problem 1. Part a Red Rider Sports Limited Income Statement for the Year Ended 30 June, 2014 Particulars Amount Percentage Gross Sales $25,50,500 100.00% Sales Returns -$76,000 -2.98% $24,74,500 97.02% Cost of Goods Sold: Cost of Goods Sold $10,20,200 40.00% Purchase Discounts -$40,800 -1.60% Salary Wages Expense $8,50,000 33.33% Utilities Expense $16,800 0.66% $18,46,200 72.39% Gross Profit $6,28,300 24.63% General Admin Expenses: Rent $60,000 2.35% Auto Truck Expense $6,200 0.24% Telephone Expense $7,200 0.28% Travel Expense $5,500 0.22% Office Expense $7,800 0.31% General Liability Insurance $14,200 0.56% Repair Maintenance $4,800 0.19% Supplies Expense $2,400 0.09% Depreciation $10,000 0.39% $1,18,100 4.63% Selling Distribution Expenses: Advertising $1,27,000 4.98% Sales Discounts $1,00,500 3.94% $2,27,500 8.92% Finance expenses: Bank Service Charges $2,200 0.09% Credit Card Discount $49,000 1.92% $51,200 2.01% Total Expenses $3,96,800 15.56% Net Profit $2,31,500 9.08% Dividend Paid $25,000 0.98% Retained Earnings $2,06,500 8% Part b The net profit as per draft income statement is $124,900 whereas it is $231,500 as per correct income statement. The Junior Accountant has treated purchase returns and Dividend as expenses. Purchase return is required to be deducted from cost of goods sold and dividend is appropriation of income and not expense. Therefore, these items cannot be treated as expense. Moreover, the junior accountant has not classified expenses according to function. It is necessary for better understanding of the financial results of the company. Part C Credit Card Discount is $49,000 Credit Card Fees 2.20% Credit Card Sales (i) $22,27,273 Total Sales $24,74,500 Cash Sales (ii) $2,47,227 Problem 2 Part a Tong Manufacturing Ltd Calculation of Capitalized Cost of Machine 502 Particulars Amount Remarks Purchase Price $90,000 Basic Purchase Price Shipping $7,500 Cost of Asset to bring its intended use GST $9,000 Part of Purchase Price Setup Preparation $2,600 Cost of Asset to bring its intended use Setup Costs $12,000 Cost of Asset to bring its intended use Trial Run cost $3,500 Cost of Asset to bring its intended use Interest cost $400 Cost of Asset to bring its intended use Repairing $0 not related to capitalization Capitalized Cost $1,25,000 Part B Depreciation schedule for fiscal year 2010-2011 Asset Description Date Cost Basis Residual Value Prior Accum. Depreciation Prior BookValue Carry Amount Depreciable LifeYrs or Units Depreciation Method Current Year Depreciation Expense Building 01-Jan-11 $5,50,000 $1,00,000 $0 $0 20 SL $11,250.00 Land 01-Jan-11 $1,90,000 $0 $0 $0 0 0 $0.00 5desks 01-Jan-11 $7,500 - $0 $0 20 SL $187.50 5 computers/ monitors 01-Jan-11 $6,000 $900 $0 $0 6 RB $813.00 Machinery 501 01-Jan-11 $45,000 $3,000 $0 $0 24,000 UOP $3,500 Totals $7,98,500 $1,03,900 $0 $0 $15,751 Depreciation schedule for fiscal year 2011-2012 Asset Description Date Cost Basis Residual Value Prior Accum. Depreciation Prior BookValue Carry Amount Depreciable LifeYrs or Units Depreciation Method Current Year Depreciation Expense Building 01-Jan-11 $5,50,000 $1,00,000 $11,250 $5,38,750 20 SL $22,500.00 Land 01-Jan-11 $1,90,000 $0 $0 $1,90,000 0 0 $0.00 5desks 01-Jan-11 $7,500 $0 $188 $7,313 20 SL $375.00 5computers/ monitors 01-Jan-11 $6,000 $900 $813 $5,187 6 RB $1,405.68 1computerserver 01-Jul-11 $2,500 $375 $0 $2,500 6 RB $677.50 Server Cabinet 01-Jul-11 $1,500 $0 $0 $1,500 10 SL $150.00 Machinery 501 01-Jan-11 $45,000 $3,000 $3,500 $41,500 24,000 UOP $7,000 Totals $8,02,500 $1,04,275 $15,751 $7,86,750 $32,108 Depreciation schedule for fiscal year 2012-2013 Asset Description Date Cost Basis Residual Value Prior Accum. Depreciation Prior BookValue Carry Amount Depreciable LifeYrs or Units Depreciation Method Current Year Depreciation Expense Building 01-Jan-11 $5,50,000 $1,00,000 $33,750 $5,16,250 20 SL $22,500.00 Land 01-Jan-11 $1,90,000 $0 $0 $1,90,000 0 0 $0.00 5desks 01-Jan-11 $7,500 $0 $563 $6,938 20 SL $375.00 5computers/monitors 01-Jan-11 $6,000 $900 $2,219 $3,781 6 RB $1,024.74 1computerserver 01-Jul-11 $2,500 $375 $678 $1,823 6 RB $493.90 Server Cabinet 01-Jul-11 $1,500 $0 $150 $1,350 10 SL $150.00 Machinery501 01-Jan-11 $45,000 $3,000 $10,500 $34,500 24,000 UOP $6,125 3desks 01-Jul-12 $4,800 $0 $0 $4,800 20 SL $240.00 5chairs 01-Jul-12 $1,250 $0 $0 $1,250 10 SL $125.00 3computers 01-Jul-12 $3,600 $540 $0 $3,600 6 RB $975.60 Reception Desk 01-Jul-12 $4,500 $0 $0 $4,500 10 SL $450.00 2012 Nissan delivery Van 01-Jul-12 $46,750 $5,000 $0 $46,750 6 RL $14,539.25 Machinery502 01-Jan-13 $1,25,000 $10,000 $0 $1,25,000 50000 UOP $8,050 Totals $9,88,400 $1,19,815 $47,859 $9,40,541 $55,048 Part C Depreciation schedule for fiscal year 2013-2014 Asset Description Date Cost Basis Residual Value Prior Accum. Depreciation Prior BookValue Carry Amount Depreciable LifeYrs or Units Depreciation Method Current Year Depreciation Expense Building 01-Jan-11 $5,50,000 $1,00,000 $56,250 $4,93,750 20 SL $22,500.00 Land 01-Jan-11 $1,90,000 $0 $0 $1,90,000 0 0 $0.00 5desks 01-Jan-11 $7,500 $0 $938 $6,563 20 SL $375.00 5computers/monitors 01-Jan-11 $6,000 $900 $3,243 $2,757 6 RB $747.03 1computerserver 01-Jul-11 $2,500 $375 $1,171 $1,329 6 RB $360.05 Server Cabinet 01-Jul-11 $1,500 $0 $300 $1,200 10 SL $150.00 Machinery501 01-Jan-11 $45,000 $3,000 $16,625 $28,375 24,000 UOP $6,125 3desks 01-Jul-12 $4,800 $0 $240 $4,560 20 SL $240.00 5chairs 01-Jul-12 $1,250 $0 $125 $1,125 10 SL $125.00 3computers 01-Jul-12 $3,600 $540 $976 $2,624 6 RB $711.21 Reception Desk 01-Jul-12 $4,500 $0 $450 $4,050 10 SL $450.00 2012 Nissan delivery Van 01-Jul-12 $46,750 $5,000 $14,539 $32,211 6 RL $10,017.54 Machinery502 01-Jan-13 $1,25,000 $10,000 $8,050 $1,16,950 50000 UOP $19,550 Totals $9,88,400 $1,19,815 $1,02,907 $8,85,493 $61,351 Problem 3 Part a calculation of capitalization amount Particulars Amount Remarks Base Price $65,000 Purchase Price Rear Toolbar $400 Accessories - Part of Truck Heavy Duty Front Bumper $1,500 Accessories - Part of Truck Company Name Plate $0 not required Navigation System $935 Accessories - Part of Truck Alarm System $235 Accessories - Part of Truck GST $6,867 Tax Capitalization Amount $74,937 Part b Calculation of Finance Amount Total Costs $75,537 Down Payment $10,000 Finance Amount $65,537 Part c Delivery Truck A/c Dr $74,937 Delivery Truck Maintenance A/c Dr $600 To Accounts Payable $75,537 (Being Delivery Truck Purchased) Part d Finance Amount $65,537 Finance Months 60 Interest Per Month 0.42% Monthly Installment $1,237.00 Repayment Schedule Month Opening Balance Interest Instalment Amount Principal Repayment Closing Balance Oct-14 $65,537 $273 $1,237 $964 $64,573 Nov-14 $64,573 $269 $1,237 $968 $63,605 Dec-14 $63,605 $265 $1,237 $972 $62,633 Jan-15 $62,633 $261 $1,237 $976 $61,657 Feb-15 $61,657 $257 $1,237 $980 $60,677 Mar-15 $60,677 $253 $1,237 $984 $59,693 Apr-15 $59,693 $249 $1,237 $988 $58,705 May-15 $58,705 $245 $1,237 $992 $57,713 Jun-15 $57,713 $240 $1,237 $997 $56,716 F.Y. 2014-15 $2,312 $11,133 $8,821 Jul-15 $56,716 $236 $1,237 $1,001 $55,715 Aug-15 $55,715 $232 $1,237 $1,005 $54,710 Sep-15 $54,710 $228 $1,237 $1,009 $53,701 Oct-15 $53,701 $224 $1,237 $1,013 $52,688 Nov-15 $52,688 $220 $1,237 $1,017 $51,671 Dec-15 $51,671 $215 $1,237 $1,022 $50,649 Jan-16 $50,649 $211 $1,237 $1,026 $49,623 Feb-16 $49,623 $207 $1,237 $1,030 $48,593 Mar-16 $48,593 $202 $1,237 $1,035 $47,558 Apr-16 $47,558 $198 $1,237 $1,039 $46,519 May-16 $46,519 $194 $1,237 $1,043 $45,476 Jun-16 $45,476 $189 $1,237 $1,048 $44,428 F.Y. 2015-16 $2,556 $14,844 $12,288 Jul-16 $44,428 $185 $1,237 $1,052 $43,376 Aug-16 $43,376 $181 $1,237 $1,056 $42,320 Sep-16 $42,320 $176 $1,237 $1,061 $41,259 Oct-16 $41,259 $172 $1,237 $1,065 $40,194 Nov-16 $40,194 $167 $1,237 $1,070 $39,124 Dec-16 $39,124 $163 $1,237 $1,074 $38,050 Jan-17 $38,050 $159 $1,237 $1,078 $36,972 Feb-17 $36,972 $154 $1,237 $1,083 $35,889 Mar-17 $35,889 $150 $1,237 $1,087 $34,802 Apr-17 $34,802 $145 $1,237 $1,092 $33,710 May-17 $33,710 $140 $1,237 $1,097 $32,613 Jun-17 $32,613 $136 $1,237 $1,101 $31,512 F.Y. 2016-17 $1,928 $14,844 $12,916 Jul-17 $31,512 $131 $1,237 $1,106 $30,406 Aug-17 $30,406 $127 $1,237 $1,110 $29,296 Sep-17 $29,296 $122 $1,237 $1,115 $28,181 Oct-17 $28,181 $117 $1,237 $1,120 $27,061 Nov-17 $27,061 $113 $1,237 $1,124 $25,937 Dec-17 $25,937 $108 $1,237 $1,129 $24,808 Jan-18 $24,808 $103 $1,237 $1,134 $23,674 Feb-18 $23,674 $99 $1,237 $1,138 $22,536 Mar-18 $22,536 $94 $1,237 $1,143 $21,393 Apr-18 $21,393 $89 $1,237 $1,148 $20,245 May-18 $20,245 $84 $1,237 $1,153 $19,092 Jun-18 $19,092 $80 $1,237 $1,157 $17,935 F.Y. 2017-18 $1,267 $14,844 $13,577 Jul-18 $17,935 $75 $1,237 $1,162 $16,773 Aug-18 $16,773 $70 $1,237 $1,167 $15,606 Sep-18 $15,606 $65 $1,237 $1,172 $14,434 Oct-18 $14,434 $60 $1,237 $1,177 $13,257 Nov-18 $13,257 $55 $1,237 $1,182 $12,075 Dec-18 $12,075 $50 $1,237 $1,187 $10,888 Jan-19 $10,888 $45 $1,237 $1,192 $9,696 Feb-19 $9,696 $40 $1,237 $1,197 $8,499 Mar-19 $8,499 $35 $1,237 $1,202 $7,297 Apr-19 $7,297 $30 $1,237 $1,207 $6,090 May-19 $6,090 $25 $1,237 $1,212 $4,878 Jun-19 $4,878 $20 $1,237 $1,217 $3,661 F.Y. 2018-19 $570 $14,844 $14,274 Jul-19 $3,661 $15 $1,237 $1,222 $2,439 Aug-19 $2,439 $10 $1,237 $1,227 $1,212 Sep-19 $1,212 $5 $1,237 $1,212 $0 F.Y. 2019-20 $30 $3,711 $3,661 Grand Total $8,663 $74,220 $65,537 Part e Cost of Truck $74,937 Residue Value $7,000 Useful Life 8 Purchase Date 01-09-2014 Year End Jun-30 Depreciation for FY 2014-15 $15,987 Depreciation for FY 2015-16 $15,091 Depreciation for FY 2016-17 $11,228 Depreciation for FY 2017-18 $8,354 Depreciation for FY 2018-19 $6,215 Depreciation for FY 2019-20 $4,624 Depreciation for FY 2020-21 $3,440 Depreciation for FY 2021-22 $2,560 Year Particulars Debit Credit 2014-15 Depreciation Expense $15,987 To Accumulated Depreciation $15,987 (Being Depreciation Expense recorded) 2015-16 Depreciation Expense $15,091 To Accumulated Depreciation $15,091 (Being Depreciation Expense recorded) 2016-17 Depreciation Expense $11,228 To Accumulated Depreciation $11,228 (Being Depreciation Expense recorded) 2017-18 Depreciation Expense $8,354 To Accumulated Depreciation $8,354 (Being Depreciation Expense recorded) 2018-19 Depreciation Expense $6,215 To Accumulated Depreciation $6,215 (Being Depreciation Expense recorded) 2019-20 Depreciation Expense $4,624 To Accumulated Depreciation $4,624 (Being Depreciation Expense recorded) 2020-21 Depreciation Expense $3,440 To Accumulated Depreciation $3,440 (Being Depreciation Expense recorded) 2021-22 Depreciation Expense $2,560 To Accumulated Depreciation $2,560 (Being Depreciation Expense recorded)