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Theo purchased a truck for $67,000 to use in his business. The truck was purchased on 1 September 2017. The truck is used only for
Theo purchased a truck for $67,000 to use in his business. The truck was purchased on 1 September 2017. The truck is used only for business purposes and Theo is not using the Small Business Entity method of depreciation. The effective life of the truck at the time of its acquisition was seven years. The accountant has advised that he should use the diminishing value method when calculating his depreciation claim.
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Solution A Truck esteem is 67000 and life is 7 years So the firstyear devaluation will be 957143 yet ...Get Instant Access to Expert-Tailored Solutions
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