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Compute the amount of depreciation charged for the year

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Question - A retailer purchased a delivery wagon for $31 000 on 1 July 2016. It was planned to keep the vehicle until it had done 60 000 kilometres and then to trade it in.

The expected trade in value was $8 000.

Schedule of actual distance travelled was:

30/6/17 20 000 km

30/6/18 15 000 km

30/6/19 15 000 km

30/6/20 10 000 km

Using the units-of-production method, compute the amount of depreciation charged for the year ended 30 June 2020?

a. $3 500

b. $3 750

c. $3 833

d. $4 633

Reference no: EM132563953

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