bri township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 200,000. The vehicles are expected to last for 5 years and the residual value is nil (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020, the police vehicles will be reported under assets in the general fund column at which of the following amounts? a. RO 160,000 b. None of the options c. RO 120,000 d. RO 90,000
bri township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 200,000. The vehicles are expected to last for 5 years and the residual value is nil (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020, the police vehicles will be reported under assets in the general fund column at which of the following amounts? a. RO 160,000 b. None of the options c. RO 120,000 d. RO 90,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ibri township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 200,000. The vehicles are expected to last for 5 years and the residual value is nil (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020, the police vehicles will be reported under assets in the general fund column at which of the following amounts?
a.
RO 160,000
b.
None of the options
c.
RO 120,000
d.
RO 90,000
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