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TQ.2 Airways Ltd acquired a plane on 1 July 20X0 at a cost of $1,200,000 with a residual value of $200,000. The plan has an e

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Answer #1

Following are different ways of measuring depreciation for the year ended 30th June, 20X2:

  • Straight Line Depreciation Method.
  • Diminishing Balance Method.
  • Sum of Years' Digits Method.
  • Unit of Production Method(in this case by dividing the depreciable cost by 40,000)
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