Solved: Its estimated residual value is 0 and annual depreciation, Accounting Basics

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Its estimated residual value is 0 and annual depreciation

Question - TradeYou purchases a vehicle for one of its executives. Its estimated residual value is $0, and annual depreciation calculated over 5 years on a straight-line basis is $10,000. What was the (GST exclusive) cost of the vehicle?

a. $10,000

b. $58,000

c. $50,000

d. $40,000

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Accounting Basics: Its estimated residual value is 0 and annual depreciation

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