Question
A motor vehicle was purchased on 31 March 2016 for $42,000 plus GST. It has an expected useful life of 5 years and is being
A motor vehicle was purchased on 31 March 2016 for $42,000 plus GST. It has an expected useful life of 5 years and is being depreciated using the straight-line method to a residual value of $10,000 plus GST.
Assuming balance day is 30 June:
- How much is depreciation each year? (Show your workings)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
