can any1 help me do this Depreciation question

System

hello all,
i'm trying 2 do Specimen Exam paper 2003 Standard of Unit 5 FRA. Stuck on a question of Depreciation.
Give u the information, I'll really appreciate if some 1 can help plzzzzzzzzz.

Calculate the Depreciation for year ending 31 Dec 2002. (25% reducing balace method)
Total Vehicle cost (31 dec 2001): 23025
Accumulated Dep: 12750
net book value: 10275

Some of vehicle originally cost £8000 in 1999 part exchanged (i think £8000 is included in the above info)
prov of dep on this £8000 (for 3 yrs, should be included in the above info as well): 4625
Part exchanged allownce: 2000
paid for replacement (bank): 7500

NOTE: when part exchanged it also said that no dep in the yr of disposal. so no dep has been done in 2002 yet on any vehicle amount.

Got flu as well (not feelin well )
Thnx in advance if some 1 can help

System

can any1 help me do this Depreciation question

i did it like this:
vehicles:

---

23025
less: disposed vehicle:

---

(8000)

---

---

15025
less: Accumulated Dep:

---

(12750)

---

2275
Add: New vehicle:

---

9500

---

---

11775

now depreciation for 2002 will be:
11775*25%=2943.75

Is it right?

System

Re:can any1 help me do this Depreciation question

I think it should go like this:

Cost:

B/f 23025
Adds 9500
Disp (8000)
C/f 24525

Depn:

B/f 12750
Disp (4625)
8125
Chg 4100
C/f 12225

Depreciation charge is 4100 because:

24525 - 8125= 16400 so 16400 x 25% = 4100

Hope that helps.

System

Re:can any1 help me do this Depreciation question

r u sure?

System

Re:can any1 help me do this Depreciation question

Thnx Jinx,
It is absolutely right. I did it like that. My tutor sent me an email for the answer of this paper and yes it was right.
thanks again,
I really apreciate it.
Bye
Naureen