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What is its carrying amount on first july

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Reference no: EM131809450

Problem

HRH'S balance sheet of 30 June 2011 shows a motor vehicle at a cost Moe of $72,000 less accumulated depreciation of $36,000 Depreciation Is calculated on a straight-11re basis. If the vehicle had s use, Ile of 6 years at the time of purchase and a residual value of $6,000. What is its carrying amount on 1 July 2013.

a) 26,000
b) 25,000
c) $14,000
d) $20000

 

Reference no: EM131809450

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