Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Equipment which had a carrying amount at the end of the financial year 2018/19 of $18 000, was disposed of on 1 October 2019. Depreciation
Equipment which had a carrying amount at the end of the financial year 2018/19 of $18 000, was disposed of on 1 October 2019. Depreciation was calculated on the equipment at 20% per annum using the diminishing-balance method. What was the depreciation expense charged for the first 3 months of the financial year 2019/20, before the asset was sold?
a. | $3 600 | |
b. | $900 | |
c. | $0 | |
d. | $1 800 |
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