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Hightops balance sheet of 30 June 2018 shows a motor vehicle at a cost price...

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Accounting

Hightops balance sheet of 30 June 2018 shows a motor vehicle at a cost price of $46 000 less accumulated depreciation of $17 500. Depreciation is calculated on a straight-line basis. If the vehicle had a useful life of 6 years at the time of purchase and a residual value of $4 000, its carrying amount on 1 July 2020 is:

A) $7 666.

B) $13 160.

C) $14 500.

D) $17 500.

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