Use the information below to answer the following questions:
Jacques Ltd purchased a computer for $4500 on 1 July 2009. It had an estimated useful life of 3 years. It was depreciated using the straight-line method. The financial year ends on 30 June.
-What was the net book value at 30 June 2011?
A) nil
B) $1500
C) $3000
D) $4500.

Question

Use the information below to answer the following questions:
Jacques Ltd purchased a computer for $4500 on 1 July 2009. It had an estimated useful life of 3 years. It was depreciated using the straight-line method. The financial year ends on 30 June. 
-What was the net book value at 30 June 2011?
A) nil
B) $1500
C) $3000
D) $4500.

Quizplus · Accepted Answer

The computer depreciates by $1500 each year ($4500/3 years). After 2 years (by 30 June 2011), the accumulated depreciation is $3000, leaving a net book value of $1500 ($4500 - $3000).

Use the Information Below to Answer the Following Questions