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    Depreciation accounting

    Uploaded by

    Saima
    The document outlines a financial scenario involving Alex's motor vehicles, detailing the original cost, depreciation, and sale of an old vehicle. It requires the preparation of ledger accounts for the provision for depreciation and motor vehicle disposal for the year ended 31 December 2014. The accounts must be balanced and carried forward to 1 January 2015.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Depreciation accounting

    Uploaded by

    Saima
    1 views1 page
    The document outlines a financial scenario involving Alex's motor vehicles, detailing the original cost, depreciation, and sale of an old vehicle. It requires the preparation of ledger accounts for the provision for depreciation and motor vehicle disposal for the year ended 31 December 2014. The accounts must be balanced and carried forward to 1 January 2015.

    Original Description:

    All questions on depreciation

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    The document outlines a financial scenario involving Alex's motor vehicles, detailing the original cost, depreciation, and sale of an old vehicle. It requires the preparation of ledger accounts for the provision for depreciation and motor vehicle disposal for the year ended 31 December 2014. The accounts must be balanced and carried forward to 1 January 2015.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1 views1 page

    Depreciation accounting

    Uploaded by

    Saima
    The document outlines a financial scenario involving Alex's motor vehicles, detailing the original cost, depreciation, and sale of an old vehicle. It requires the preparation of ledger accounts for the provision for depreciation and motor vehicle disposal for the year ended 31 December 2014. The accounts must be balanced and carried forward to 1 January 2015.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    7

    3 On 1 January 2014 Alex had a motor vehicle with an original cost of $17 000 on which
    depreciation of $6800 had been provided.

    On 1 April 2014 he bought a new vehicle, costing $24 000. He sold the old one and received a
    cheque for $9400.

    Alex provides depreciation on motor vehicles at the rate of 40% per annum on the reducing
    (diminishing) balance basis. He allows a full year’s depreciation in the year of purchase and none
    in the year of disposal.

    REQUIRED

    (a) Prepare the following ledger accounts for the year ended 31 December 2014. Balance the
    account(s) where necessary and bring down the balance(s) on 1 January 2015.

    Alex
    Provision for depreciation of motor vehicles account

    Date Details $ Date Details $

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    [5]

    Motor vehicle disposal account

    Date Details $ Date Details $

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    [4]

    © UCLES 2015 0452/12/M/15 [Turn over

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