Accounting 9706 · AS & A Level · Accounting for non-current assets

Accounting for non-current assets — practice question

The motor vehicles had an opening net book value of $150000. In the course of the year, one motor vehicle was sold for $26000, and the disposal resulted in a profit of $2000. Depreciation is charged at $10\%$ on the opening net book value. The closing net book value stood at $145000. What was the cost of motor vehicles bought during the year?

  • A$33500
  • B$34000
  • C$35500
  • D$36000

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