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What is carrying amount on july

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Reference no: EM132983244

Problem 1: HRH 's balance sheet of 30 June 2014 shows a motor vehicle at a cost price of $56 000 less accumulated depreciation of $28 000. Depreciation is calculated on a straight-line basis. If the vehicle had a useful life of 6 years at the time of purchase and a residual value of $8000 what is its carrying amount on 1 July 2016?

Select one:

a. $44 000
b. $9443
c. $16 000
d. $12 000

Reference no: EM132983244

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