Question: Hi, I am working on the below question. View the statement below and determine the correct answer. On 1 July 20X1, Mary Smith commenced business

Hi,

I am working on the below question.

View the statement below and determine the correct answer. On 1 July 20X1, Mary Smith commenced business operating a retail nursery. She has asked that you calculate the depreciation expense on the assets for the year ending 30 June 20X2. NOTE: Assume the financial years do not fall within a leap year. To answer the question select the correct depreciation expense. Asset Cost $ Date of Purchase Rate Depreciation MethodDepreciation Expense Temperature Gauge 12,000 1 July 20X1 35% Diminishing Value 4,200 Deleafer 10,500 1 Feb 20X2 30% Diminishing Value Choose... v Choose.. 1,295 3,150 2,205 4,500

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