A firm owns a fleet of vehicles acquired at a total cost of 264,800. Accumulated depreciation up
Question:
A firm owns a fleet of vehicles acquired at a total cost of £264,800. Accumulated depreciation up to the beginning of the current year is £112,400. Vehicles are depreciated at 20% per annum using the straight-line method. The written-down value of the vehicles by the end of the current year would be:
Transcribed Image Text:
a £52,960 b £99,440 c £152,400 C d £211,840
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Question Posted:
Students also viewed these Business questions
-
A firm owns a fleet of vehicles acquired at a total cost of 480,000. Accumulated depreciation up to the beginning of the current year is 212,400. Vehicles are depreciated at 25% per annum using the...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Mary Wong, the sole shareholder and manager of Kitchenware Inc., has approached you and asked you to prepare a statement of cash flows for her company. The company sells kitchen utensils that are...
-
If a currency reform has no effects on the economys real variables, why do governments typically institute currency reforms in connection with broader programs aimed at halting runaway inflation?...
-
The bonds issued by Stainless Tubs bear an 8 percent coupon, payable semiannually. The bonds mature in 11 years and have a $1,000 face value. Currently, the bonds sell for $952. What is the yield to...
-
The figure shows a scatterplot with a regression line for teachers average pay and the expenditure per pupil for each state for public schooling in 2007, according to The 2009 World Almanac and Book...
-
What factors that are important to Gen Z individuals may influence entrepreneurial firms priorities in the future?
-
1. Halen Companys unadjusted trial balance at December 31, 2010, included the following accounts. Debit Credit Allowance for doubtful accounts ..................$4,000 Net Sales...
-
15. 16. What is the final product (major) 'A' in the given reaction? CH3 OH CH CH3 HCI + 'A' (major product) CH3 CH3 Cl CH (B) CH3 CH2-CH3 (A) CH3 CH (C) shiks CH=CH2 (D) Which of the following...
-
An extract of the year-end Trial Balance is shown. A new machine had been acquired for 180,000 on 1 September 2010. Machinery is depreciated at 10% of cost with proportionate depreciation in the year...
-
Joe Pickard, a shoemaker, reports his profit without accounting for depreciation of machinery. As a result: (a) Gross profit as well as net profit is overstated (b) Gross profit is not affected but...
-
In reporting discontinued operations, the income statement should show in a special section: (a) gains on the disposal of the discontinued component. (b) losses on the disposal of the discontinued...
-
If Canada did not buy and sell goods internationally, how would your community be affected?
-
A ramp meter will be installed on a freeway on-ramp (length of ramp is 1000 ft). The metering will start operating at 7:00 AM. The transportation engineer responsible for the ramp metering...
-
This exercise addresses some issues related to calculating real GDP. Consider a model economy with only two goods. The following table shows the prices and quantities of goods produced: Year 1 2 3 4...
-
Explain the purpose and use, both defensively and offensively, of checking for unsigned programs and in using Microsoft's Windows DEP. From these labs: Configuring Microsoft Windows Data Execution...
-
A converging lens has a focal length of f = 41.5 cm for blue light and f = 51.5 cm for red light. An object is placed 120 cm in front of the lens and is illuminated with white light. Chromatic...
-
An experiment was conducted in which two fair dice were thrown 100 times. The sum of the pips showing on the dice was then recorded. The following frequency histogram gives the results. (a) What was...
-
Which task is performed by a book-keeper? A. Analysing the trading results B. Entering transactions in the ledger C. Preparing year-end financial statements D. Providing information for...
-
SeaBreeze Inc., a Taiwan-based semiconductor manufacturer, reported the following information for Year 12. SeaBreeze Inc. applies IFRS and reports in millions of yuan (). Year 12 Revenues. . . . . ....
-
Dyreng Plc. (Dyreng), a Belgianbased construction firm, reported the following information for Year 11. Dyreng applies IFRS and reports in thousands of euros (). Year 11 Revenues. . . . . . . . . . ....
-
The sale of equipment for an amount of cash greater than the carrying value of the equipment results in a cash receipt equal to the carrying value of the equipment plus the gain on the sale, which...
-
The initial investment required for an upgraded warehouse management system (WMS) is $750,000. However, once it is installed, the warehouse will operate more efficiently and require less labor, which...
-
Assignment Objectives: The aim of this assignment is to identify and map the Client Company's MAIN Primary and Support activities and describe/rank them in terms of the value they add to the firm's...
-
A building's owner pays a property manager an 8% commission based on the unit's annualized rent for each new tenant. Last year, the manager signed five new tenants-three at $795 per month, one at...
Study smarter with the SolutionInn App