Use the following information to amswer the question that follows Ordinary share----------------------------------70,000 Retained earnings------------------...

Answer Details

The net book value of fixed assets is 14,354. To calculate the net book value of fixed assets, we need to subtract the accumulated depreciation from the cost of the assets. In this case, we have one motor vehicle and furniture and fittings. For the motor vehicle, we subtract the accumulated depreciation from the cost to get the net book value: Net book value of motor vehicle = Cost of motor vehicle - Accumulated depreciation on motor vehicle = 21,136 - 7,109 = 14,027 For the furniture and fittings, we also subtract the accumulated depreciation from the cost to get the net book value: Net book value of furniture and fittings = Cost of furniture and fittings - Accumulated depreciation on furniture and fittings = 1,334 - 1,007 = 327 To get the total net book value of fixed assets, we add the net book value of the motor vehicle and the net book value of furniture and fittings: Total net book value of fixed assets = Net book value of motor vehicle + Net book value of furniture and fittings = 14,027 + 327 = 14,354 Therefore, the net book value of fixed assets is 14,354.