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On 1 Jan 20×6, a business purchased a motor vehicle. The vehicle cost $10000 and has a residual value of $2000. Depreciation is calculated at 20% using the reducing balance method.
What should appear in the trial balance as at 31 Dec 20×7?
I think Accumulated depreciation Cr $3600 will appear on trial, Am I wrong?
You are correct.
(But why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers 🙂 )
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