Hy thanks for you useful vedio but I'm little bit confused , how to calculate the depreciation using straight line method , if the information says: the business purchased a new vehicle for R15000 on 1 January 2001 . it is estimated that the useful life of the vehicle is five years with no residual value . On 30 June 2003 the vehicle is sold for R8500. The financial year end is 31 December. Please help
Thank You, Teacher
Hy thanks for you useful vedio but I'm little bit confused , how to calculate the depreciation using straight line method , if the information says: the business purchased a new vehicle for R15000 on 1 January 2001 . it is estimated that the useful life of the vehicle is five years with no residual value . On 30 June 2003 the vehicle is sold for R8500. The financial year end is 31 December. Please help
Similar problem ! :(
Thank you brother ..
What if there is no salvage value?
Then no need to include it in the calculation
impairment of asset and reversal .
Thanks Antonius for the suggestion. More videos coming soon each and every week. Will keep this topic in mind 👍
what if the equipment gets an overhaul 2 years into a 4-year life and it adds 2 years to the salvage life
Revised Estimates is what this is. I will make a video on it in the future.