QCAA Accounting Practice Questions - QCAA Senior Accounting Exam (Units 3 & 4) Exam

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Coastal Logistics acquired a delivery van for $40,000 on 1 July 2024. The business uses the diminishing balance method of depreciation at a rate of 20% per annum. What is the depreciation expense for the second year ending 30 June 2026?

$$8,000 $$14,400 $$32,000 $$6,400

Correct Answer:

$$6,400

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