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pomegranite2000
Service Firm

Mini bus at 20% of cost per annum from date of purchase to date of sale the minibus held o 1/1/09 was purchased on 1/1/06 and was traded in on 1/7/09 against a new mini bus. the trade in allowance was 7000 against a new bus valued at 42000. how do you find how much the old mini bus was??


1 Comments
catreidxo
catreidxo
Do you have an accumulated deprecitation figure and a net book value for the old bus? NBV + Acc Dep = Cost. If you don't have NBV then just depreciation will work. The depreciation will be Cost x 20% x months held/12 (in this case 43/12 months), then just a bit of algebra to work out cost.
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