Question
Question text Information related to Company's vehicles is copied below. Company uses group depreciation to depreciate all of its vehicles. Asset Cost Residual Value Depreciable
Question text
Information related to Company's vehicles is copied below. Company uses group depreciation to depreciate all of its vehicles.
| Asset | Cost | Residual Value | Depreciable Base | Estimated Life (yrs.) | Depreciation per Year (Straight-Line) |
| Vans | $150,000 | $30,000 | $120,000 | 6 | $20,000 |
| Trucks | 120,000 | 16,000 | 104,000 | 5 | 20,800 |
| Wagons | 60,000 | 12,000 | 48,000 | 4 | 12,000 |
| Totals | $330,000 | $58,000 | $272,000 |
| $52,800 |
What is the Group Depreciation Rate for these assets.
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Peace Love Auditing Journal
Authors: Epic Love Books
1st Edition
1697161693, 978-1697161694
