A company's statement of profit or loss for the year ended 31 December 20X5 showed a net profit of $83,600. It was later found that $18,000 paid for the purchase of a motor van had been debited to the motor expenses account. It is the company's policy to depreciate motor vans at 25% per year on the straight-line basis, with a full year's charge in the year of acquisition.
What would the net profit be after adjusting for this error?
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FAError Adjustment
9y ago#1Why are you setting test questions and expecting answers?
You must have answers in the same book in which you found the questions, so you should ask about whatever part of the answer you are not clear about.
Have you watched the free lectures on depreciation? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
If you want me to answer any questions then you must ask in the Ask the Tutor Forum - this forum is for students to help each other.
9y ago#3As I wrote before - if you want me to answer any questions then you must ask in the Ask the Tutor Forum – this forum is for students to help each other.
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