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See BPP exam kits number 77 Bigwood:
(1) See the answers, the working number 2, I am not understanding the working completely, how he got the opening balance and the closing balance???
(2) Can you give me the technique of analyzing the financial position, the theory part,give me only the approach of attempting such type of question???1) opening and closing balance for the depreciation is shown on the opening and closing balance sheets in the question. They are both shown on the line which is titled “Depreciation” Follow that line along towards the right until you reach some figures. The first figure you arrive at – 5,000 – is the accumulated depreciation amount at the end of the year – ie closing balance on the Accumulated Depreciation account. If you carry on further to the right, you will arrive at another figure – 3,000. This is the opening balance on the accumulated depreciation account – ie opening balance
2) No, not really. It would take me much too long and I’m still teaching. Have you checked out the BPP and Kaplan approaches?
Don’t mind sir I will check how to answer the second question by myself. thanks a lot for your help……………
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