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On 1 March 2019 Peet's Groceries purchased a new Delivery van for $45 000. They paid Graham's Electrical services $3000 to install a small
On 1 March 2019 Peet's Groceries purchased a new Delivery van for $45 000. They paid Graham's Electrical services $3000 to install a small refrigeration unit in the van to transport the cold stuff ordered by customers. The Delivery van has a useful life of 5 years (or depreciates at 20% per year) or 250 000 kilometres and a scrap value $5000. The accounting period ends on 30 June every year. Complete the following tables if: 1. Peet decides to depreciate the Delivery van using the straight-line method: Year 1 Year 2 Year 3 Historical cost price Depreciation $ Accumulates Depreciation Book Value $ $ $
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