9.2 Joseph Smith had just purchased a taxi license. He is seeking advice on how to account for his business. Joseon has

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answerhappygod
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9.2 Joseph Smith had just purchased a taxi license. He is seeking advice on how to account for his business. Joseon has

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9.2 Joseph Smith had just purchased a taxi license. He is seeking advice on how to account for his
business. Joseon has ourchased a car costing S20.000. He esitmates that the car will be used for four
years after which he will sell it for $5,000. Calculate the depreciation charge to the income statement for
each vear using.
a) The straight-line method
b) The reducing balance method using a depreciation rate of 30%
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