A-LevelAccountingAccounting for non-current assets9706/12 · Feb/Mar 2021 · Q51 Mark
The net book value of motor vehicles of a company is shown. beginning of the year end of the year $312000 $305000 During the year, an old vehicle was traded in as part exchange for a new vehicle. The part exchange value of the old vehicle was $8000. The remaining purchase price of the new vehicle, $30000, was paid by cheque. What was the depreciation charge for the year?
A$29000
B$37000
C$45000
D$53000
✓ Correct answer
C: $45000
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