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What is the accumulated depreciation

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Reference no: EM132419870

A business purchased a motor vehicle at a cost of $35,000. The vehicle will be traded in after 5 years for an estimated value of $10,000. The vehicle is expected to travel 28,000 kilometres in the first year and 14,000 kilometres in the 2nd year and 32,000kilometres in the 3rd year.

It is expected to travel 140,000 kilometres in the 5 years of ownership.

Calculate the total depreciation in the first 2 years using the:

  • Straight-line method
  • Reducing balance at 20% per annum
  • Units of usage method

What is the accumulated depreciation in each case? Show your formulas and calculations.

Reference no: EM132419870

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