Reducing balance method At start of year Acquired new car (1 January 20X1) (on 1 January 20X1) Motor vehicles (at cost) £40 £20 Less: Accumulated depreciation £16 Netbook value £24 Company's depreciation policy is 25% using the reducing balance method. Required: i. What is the netbook value for motor vehicles which will appear on the face of the statement of financial position at 31 December 20X1? 

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To calculate the netbook value for motor vehicles that will a... View the full answer