Help for Balance Sheet Problem

Canada Discussion in 'Exams and Studying' started by JV23, Sep 18, 2018.

  1. JV23

    JV23

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    I’m doing an assignment for my accounting course I’m taking in university. I have completed the other questions, but this is the only one I don’t understand. I managed to get the other columns and rows right however I am not able to come up with the right value for the computer and car asset. Any help is appreciated.
     

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    JV23, Sep 18, 2018
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  2. JV23

    Steve-LevelUp VIP Member

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    It would appear that depreciation is not being factored in. Although the depreciation type is not specified, it is likely following the standard Canadian tax rules that apply. So, apply the standard depreciation for the asset class and that should give you the answer. Otherwise, you may just need to straight line the depreciation.
     
    Steve-LevelUp, Sep 18, 2018
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  3. JV23

    JV23

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    Thank you.
     
    JV23, Sep 18, 2018
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