why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Updated: 4/28/2022

Dominic McDonald ∙

Lvl 2

∙ 4y ago

Best Answer

Novelty Chemicals bought a Motor Vehicle for

$110,000 on January 5, 2016. The estimated useful

life of the vehicle is ten years. The disposal value

is estimated at $10,000. Annual depreciation is on

the straight line method.

Required for years 2016, 2017 and 2018:

a) The Motor Vehicle A/c.

b) The Provision for depreciation A/c.

c) The Profit and Loss accounts extracts for annual

depreciation.

d) The Balance Sheet extracts for motor vehicle and its

related depreciation.

full question

Dominic McDonald ∙

Lvl 2

∙ 4y ago

This answer is:

Add your answer:

Earn +20 pts

Q: Why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Write your answer...

Submit

Still have questions?

Continue Learning about Other Math

Trending Questions

What is the purpose of using graphs? What are all the common factors for 8 and 6? How many nights in a one week hotel booking? What is the same word for conform? What does it mean if the class average is 70 percent? 99 999 999 999 999 999 999 999 999 999 squared? What candy is shaped like a triangular prism? Negative 4 minus 1 equals? How many hours are 945 am to 100 pm? Ana, Bill, and Charles are getting ready to pose for a photograph. In how many different ways could they line up for the picture? How many milliliter are in 1.5 L? Is there a relationship between the sign of the slope of a line and the angle the line makes with the x-axis? What is the gcf of 210 and 308? How do you write 0.250 in expanded form? What is the LCM of 15 and 19? What number adds to 14 and multiplies to -45? How do you write 0.21 as a quotient of integers? What is the size of each exterior angle of a regular pentagon? Is 3.8 equal to 3.08? The center of an inscribed circle is the what?

Previously Viewed

why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Unanswered Questions

What ingredients are typically used in Mixture Namkeen? Is Mixture Namkeen spicy, and are there different flavor options? What are the popular ways to enjoy Mixture Namkeen? What are the most common mistakes people make when hiring cleaners for their homes or offices? What health issues are common in Himalayan kittens in Bangalore? Do you use OEM (Original Equipment Manufacturer) glass for replacements? Do removalists offer storage solutions? Is the tour conducted daily?

why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Add your answer:

Resources

Top Categories

Product

Company