) A business which has an accounting year that runs from 1 January to 31 December purchases a new non-current asset on 1 April 20X1, at a cost of RM 24,000. The expected life of the asset is 4 years, and its residual value is nil. What should the depreciation charge for 20X1 be?

) A business which has an accounting year that runs from 1 January to 31 December purchases a new non-current asset on 1 April 20X1, at a cost of RM 24,000. The expected life of the asset is 4 years, and its residual value is nil. What should the depreciation charge for 20X1 be?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

) A business which has an accounting year that runs from 1 January to 31 December
purchases a new non-current asset on 1 April 20X1, at a cost of RM 24,000. The expected life
of the asset is 4 years, and its residual value is nil. What should the depreciation charge for
20X1 be?

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