Solved: A vehicle with cost of 500000 tl is purchased on january 1, Accounting Basics

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A vehicle with cost of 500000 tl is purchased on january 1

Question: A vehicle with cost of 500.000 TL is purchased on January 1 2016 . Its useful life is 1.000.000 km and estimated residual value is 20.000 TL.

Required: According to Units of Production Method;

a) Calculate the accumulated depreciation and net book value of this vehicle after 400.000 km.

b) Journalize the depreciation expense after this vehicle is used for 200.000km.

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Accounting Basics: A vehicle with cost of 500000 tl is purchased on january 1

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Accounting Basics: A vehicle with cost of 500000 tl is purchased on january 1

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