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1 26ansa (-a Spiderman purchased a motor vehicle for 25,000$ on 1 October 2014. Required: Calculate the depreciation charge for each of the three years
1 26ansa (-a Spiderman purchased a motor vehicle for 25,000$ on 1 October 2014. Required: Calculate the depreciation charge for each of the three years ended 31 December on the basis: 1. It is Spiderman's policy to charge depreciation at 25% per annum on a reducing balance basis, wit full years charge in the year of acquisition and none in the year of disposal. 2. It is Spiderman's policy to charge depreciation at 25% per annum on a reducing balance basis, with proportionate depreciation in the year of purchase
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