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Yousef Motors purchases a vehicle on 01 January 2019 at 2000KD. The vehicle has a useful life of 5 years and a depreciation rate of
Yousef Motors purchases a vehicle on 01 January 2019 at 2000KD. The vehicle has a useful life of 5 years and a depreciation rate of 20% per annum. 1. Calculate depreciation expense for the years ending 31 December 2019 2. What was the carrying value of the vehicle at year end 31 December 2019? 3. Calculate depreciation expense for the years ending 31 December 2020 4. What was the carrying value of the vehicle at year end 31 December 2020?
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