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Depreciation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Depreciation

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • July 13, 2022 at 6:41 am #660372
    ThaeJulyOo257
    Member
    • Topics: 10
    • Replies: 6
    • ☆

    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?

    July 13, 2022 at 8:39 am #660381
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54711
    • ☆☆☆☆☆

    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 🙂 )

    July 13, 2022 at 9:06 am #660385
    ThaeJulyOo257
    Member
    • Topics: 10
    • Replies: 6
    • ☆

    Thanks for answering, sir! Have a good day!!!

    July 13, 2022 at 4:25 pm #660408
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54711
    • ☆☆☆☆☆

    You are welcome.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Depreciation’ is closed to new replies.

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