Question
A haulage company acquired a truck for $90,000 on 1.1.20X0 and a coach for $70,000 on 30.6.20X1. Their estimated economic lives were four years and
A haulage company acquired a truck for $90,000 on 1.1.20X0 and a coach for $70,000 on 30.6.20X1. Their estimated economic lives were four years and the estimated scrap value was 10% of cost. Calculate the depreciation charge for the year ended 31.12.20X2, if the depreciation method used is the reducing balance method applying a percentage of 40%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
0256069190, 978-0256069198
