The following information relates to the fixed assets of a business. Depreciation is calculated on the reducing

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The following information relates to the fixed assets of a business.

Depreciation is calculated on the reducing balance basis at the rate of 30%. What was the net book value of the assets that were disposed of in the year ended 31 March 2003?

A. $11 400

B. $16 800

C. $18 400

D. $25 400

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 27, 2023 09:15 AM

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The following information relates to the fixed assets of a business. Depreciation is calculated on the reducing

Question:

Cost at 1 April 2002 Accumulated depreciation at 1 April 2002 Fixed assets purchased in year ended 31 March 2003 Depreciation charged for the year ended 31 March 2003 $ 32 000 13 600 7.000 4 200

Step by Step Answer:

The answer is C 18 400 Calculation Net book value of assets at 1 April 2002 Cost at 1 April 2...View the full answer

Accounting A Level And AS Level

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