Vincenzo's balance sheet at 31 August 20X7 shows the following balances in respect of fixed assets:

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Buildings at cost 306 000 Less: accumulated depreciation (18 360)

Net book value 287 640 Motor vehicles at cost 48 770 Less: accumulated depreciation (16 470)

Net book value 32 300 Fixtures and fittings at cost 12 720 Less: accumulated depreciation (6 360)

Net book value 6 360 In the year ending 31 August 20X8 no purchases or sales of fixed assets are made. Vincenzo depreciates fixed assets as follows:

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Financial Accounting For Non Specialists

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Question Posted: Jul 09, 2024 01:00 AM

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Vincenzo's balance sheet at 31 August 20X7 shows the following balances in respect of fixed assets:

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Financial Accounting For Non Specialists

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