Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume that spartan limited acquired an aircraft w

Assume that Spartan Limited acquired an aircraft with a total cost of R7 800 000,...

90.2K

Verified Solution

Question

Accounting

Assume that Spartan Limited acquired an aircraft with a total cost of R7 800 000, inclusive of R1 400 000 in respect of the lining on 1 August 2014. It was available for use as intended by management immediately and the aircraft had a useful life of 15 years, with a residual value of R400 000. The lining must be replaced every three years. The lining has been identified as a separate component at initial recognition. Calculate the total depreciation expense on the aircraft (including the lining) for the year ended 31 December 2016. a. R866 667 b. R960 000 c. R893 334 d. R520 000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find the ΔG of the following reaction when there is 1.64 M A in solution. The...

Chemistry
Q

Design a stated preference survey for modeling the mode choice of commuters. There are three choices...

Civil Engineering
Q

Typically most individuals have misunderstanding regarding schizophrenia. For example, it is not uncommon for people to believe...

Psychology
Q

Suppose both Smith and Jones utility functions of U(X,Y) = X1/2Y1/2. Smith is endowed with (X,...

Economics
Q

Consider g(x)=-2x +5 on [1,1].Determine the interval over which g is continuous and the interval...

Calculus
Q

Let f x x 5 a Find f x b State the domain and range...

Algebra
Q

Required information The following...

Accounting
Q

Wilma and Betty are starting a cow-calf enterprise under an operating agreement. Wilma owns all...

Accounting
Q

Beale Management has an unfunded retiree health care plan. At the end of 2022, the...

Accounting
Q

Explain the changes in accounting for leases under ASU 2016-02. What was the primary purpose...

Accounting
Q

The following inventory transactions took place for Ivanhoe Ltd. for the year ended December 31,...

Accounting
Q

Vandalay Industries manufactures two products: toasters and blenders. The annual production and sales of toasters...

Accounting