Question
Nannu PLC has 3 vehicles. The company follows different depreciation methods for each of the vehicle. Information regarding the 3 vehicles is given below: Vehicle
Nannu PLC has 3 vehicles. The company follows different depreciation methods for each of the vehicle. Information regarding the 3 vehicles is given below: Vehicle Model N315TXP83 N262MDU78 .. N158XW95 Depreciation Method Declining balance .. Units of Activity Straight Line Purchase date October 1,2020 July 1,2020 . January 1,2020 Cost ($) 260000 180000 150000 Salvage Value ($) 50000 40000 10000 Useful Life (Years) 5 5 4 N262MDU78 is expected to be used for 25000 hours. Actual hours used in the year 2020 and 2021 were 5600 hours and 10500 hours respectively.
Complete the depreciation schedules of each of the vehicles for 2020 and 2021.
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