A firm purchases a delivery van for business use at a cost of 36,000. The van is
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A firm purchases a delivery van for business use at a cost of £36,000. The van is expected to have a three-year lifespan with no scrap value. Depreciation for the van will be charged by using either the straight line method or the reducing balance method (using a rate of 70% per annum).
Calculate the depreciation for each of the three years, using both methods.
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Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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