CORRECT TEXT

CORRECT TEXT

The following information relates to a single asset:

* Original cost of $186,000

* Estimated residual value of $6,000

* Expected useful life of 10 years

* Accumulated depreciation at 31 December 20X5 of $66,960

* Annual depreciation rate of 20% on a reducing balance basis

Calculate the amount of depreciation that should be charged to profit or loss for the year ended 31 December 20X6.

Give your answer to the nearest whole number.

View Answer

Answer: $23808