You are the accountant for a restaurant. The restaurant has recently started a home delivery service and
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You are the accountant for a restaurant. The restaurant has recently started a home delivery service and purchased a car to make deliveries. You have to prepare the yearend financial statements for the restaurant and have to decide how to depreciate the car. What useful life and residual value would you assign to the car? Explain your decision fully and discuss the factors you considered. Assume the restaurant prepares its financial statements in accordance with IFRS. The car cost $24,000.
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Aysha Ali
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