Question: Andy bought a van on the 1st August 20X2 for 12,000. He intends to use the van for five years after which he has promised

Andy bought a van on the 1st August 20X2 for 12,000. He intends to use the van for five years after which he has promised to sell it to his pal Joe for 2,000. He uses the straight line method of depreciation. What will be the value of the van shown in the Statement of Financial Position at 31st July 20X5? A. 2,000 B. 6,000 C. 8,000 D. 4,000

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