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What value should use to calculate depreciation

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MVD Ltd charges depreciation on a proportionate basis. In 2019 MVD Ltd acquired a new motor vehicle from FDH Ltd at a costs of $950,000 net of a discount of $50,000. MVD Ltd paid the full amount to FDH Ltd through a cheque on 15 March 2019. MVD Ltd took possession of the motor vehicle on 31 March 2019 and it was ready for use on that date. The transaction regarding the new motor vehicle has not been recorded in the books of MVD Ltd.

Question 1: Is the $50000 discount received or trade discount?

Question 2: What value should use to calculate depreciation? (10% per annum)

Reference no: EM132505481

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