Land& building=60,000
Motor vehicle=5,000
Depreciation has to be write off
Land& building at 20% per annum
Motor vehicle at 20% per annum
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Explanation:
Depreciation for land and building
20%÷100 × 60 000
= 12 000 for a year
= 12 000 ÷ 12
= 1000 for 1 month
Depreciation for motor vehicle
20% ÷ 100 × 5000
= 1000 for 1 year
Hope it helps you
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