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do someone know the answer?i am stuck.
The carrying amount of Mike’s property, plant and equipment is $112,000 at 1 January 20X8. During the financial year, a delivery van costing $18,000 was purchased and a plot of land was sold for $55,000. The depreciation charge for the year was $17,540.
What is the carrying amount at 31 December 20X8?
A $21,460
B $57,460
C $92,540
D $166,540Carrying Value: Net Book Value
So, on 1st Jan, u had 112000 of assets.
u bought an asset worth 18000 and sold an asset worth 55000.
so, the total nbv was 112k+18k-55k=75k.
the depreciation charge was 17540. this amount is dedected from the nbv to give a new value on 1st jan X9.
nbv=75000 – 17540 = 57460
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