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Nevertire Ltd purchased a delivery van costing $49,000 net of GST. It is expected to have a residual value of $11,000 at th end of
Nevertire Ltd purchased a delivery van costing $49,000 net of GST. It is expected to have a residual value of $11,000 at th end of its useful life of 4 years or 188,000 kilometres. Assume the van was purchased on 2 July 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2019-20 using each of the following depreciation methods: (Round intermediate calculations to 2 decimal places, e.g. 5.21 and final answers to 0 decimal places, e.g. 5,275. Use months, not days, in your straight-line depreciation method calculations.) Assume the van was purchased on 1 October 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the year 2019-20 using each of the following depreciation methods: (Round intermediate calculations to 2 decimal places, e.g. 5.21 and final answers to 0 decimal places, e.g. 5,275. Use months, not days, in your straight-line depreciation method calculations.)
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