Stacy purchased 3 Motor Vehicles for her business at a total cost of GH₵60,000 on 1st Jan 2000. On 1st July 2001, Stacy added a new BMW X5 which cost GH₵100,000 to her fleet. The firm’s policy is to write of all Vehicles over 5 years and donate it to charity thereafter With 31st December as year end show for 3 years i.Motor Vehicles Account ii.Accumulated Depreciation Account iii.Depreciation Account Using a) Straight line Method b) Reducing balance method (rate is 25%)

Stacy purchased 3 Motor Vehicles for her business at a total cost of GH₵60,000 on 1st Jan 2000. On 1st July 2001, Stacy added a new BMW X5 which cost GH₵100,000 to her fleet. The firm’s policy is to write of all Vehicles over 5 years and donate it to charity thereafter With 31st December as year end show for 3 years i.Motor Vehicles Account ii.Accumulated Depreciation Account iii.Depreciation Account Using a) Straight line Method b) Reducing balance method (rate is 25%)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter9: Acquisitions Of Property

Section: Chapter Questions

Problem 64P

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