Accounting 0452 · IGCSE · Accounting for depreciation and disposal of non-current assets

Accounting for depreciation and disposal of non-current assets — practice question

On 1 January 2022, T Limited purchased a motor vehicle for $30000. Depreciation was charged at 30% per annum by the reducing balance method. T Limited's financial year ends on 31 December. What is the net book value of the motor vehicle at 31 December 2024?

A$3000
B$10290
C$12000
D$14700

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