Solved: How much depreciation would be shown on the income, Accounting Basics

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How much depreciation would be shown on the income

Question - A vehicle was purchased for $160,000 on 1st Jan, 2017. It is estimated that it has a useful life of 4 years and then will be sold for $10, 000. The financial year ends on 31st December. For the dimishing balance method, the firm uses a 50% deprication rate. How much depreciation would be shown on the income statement for each of the 4 years using the straight-line method?

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Accounting Basics: How much depreciation would be shown on the income

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