Nizwa township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 300,000. The vehicles are expected to last for 5 years and the residual value is RO 10,000 (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020. How much will be reported as annual depreciation?
Nizwa township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 300,000. The vehicles are expected to last for 5 years and the residual value is RO 10,000 (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020. How much will be reported as annual depreciation?
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 4EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...
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Nizwa township general fund acquired vehicles for the police department at the beginning of January 2018 at a total cost of RO 300,000. The vehicles are expected to last for 5 years and the residual value is RO 10,000 (scrap value), Straight-line depreciation is used. On the Balance Sheet date for the governmental funds at December 2020. How much will be reported as annual depreciation?
a.
R0 174,000
b.
RO 58,000
c.
R0 242,000
d.
None of the options
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