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The Sean Paul is a manufacturer of skin ointment. The firm has provided the following data for 2020 Factory Assets at Cost 350,000 Admin Assets
The Sean Paul is a manufacturer of skin ointment. The firm has provided the following data for 2020 Factory Assets at Cost 350,000 Admin Assets at Cost 250,000 Motor Vehicle at Cost 600,000 Prov for Depn M Vehicle 90,000 Bank 145,000 Debtors 80,000 Capital 600,000 Prime Cost 350,000 It was noted that the motor vehicle is subjected to an annual depreciation of 5% per annum on the straight-line basis. The Motor vehicle is used 50% of the time in the factory. How much is to be applied as depreciation charges for motor vehicle in the manufacturing account for 2020? $90,000 $120,000 O $15,000 $30,000
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