Accounting for IGCSE & O level - Accounting Procedures (Section 9 - No. 23)
What is the depreciation charge per year if the cost of asset is $12,000 and the salvage value is $1,000 and the useful life is 4 years?
$2,750
$3,000
$1,000
$11,000
Explanation
Depreciation charge is ($12,000 - $1,000) / 4 years = $2,750
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