Question: B acquired a lorry on 1 May 2 0 X 0 O at a cost of $ 3 0 , 0 0 0 . The

B acquired a lorry on 1 May 20X0O at a cost of $30,000. The lorry has an estimated useful life of four years, and an estimated resale value at the end of that time of $6,000. B charges depreciation on the straight line basis, with a proportionate charge in the period of acquisition.What will the depreciation charge for the lorry be in B's accounting period to 30 September 20X0?

Step by Step Solution

3.46 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The depreciation charge for the lorry in Bs accounting period to 30 September 20X0 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!