Nedim bought a vehicle worth RM270 000 by cash for his business. The car is expected to be useful for 9 years with salvage value of RM10 500 and depreciation rate of 9% per annum. Please calculate on the following: i. ii. Net book value at the end of useful life. Depreciation rate.

Nedim bought a vehicle worth RM270 000 by cash for his business. The car is expected to be useful for 9 years with salvage value of RM10 500 and depreciation rate of 9% per annum. Please calculate on the following: i. ii. Net book value at the end of useful life. Depreciation rate.

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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Nedim bought a vehicle worth RM270 000 by cash for his business. The car is
expected to be useful for 9 years with salvage value of RM10 500 and depreciation
rate of 9% per annum. Please calculate on the following:
i.
ii.
Net book value at the end of useful life.
Depreciation rate.

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Step 1: Calculate the annual depreciation expense.

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Step 2: Calculate the net book value at the end of the useful life.

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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