Home For AAT student members AQ 2013 AAT Level 3 (Level 6 in Scotland)
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


Depreciation

I have a question I am currently stuck on - accounting for depreciation. This is for year end 30/04/X0:

Existing Equipment @ Cost has already been recorded in the Equipment @ Cost Account as Balance b/d of £6,200.

Existing Depreciation has also already been recorded in the Depreciation Charge Account has Balance b/d £3,000.

The accumulated depreciation for the existing asset has been calculated as £430 (10% depreciation per annum).

It states 'Depreciation on existing equipment has not been accounted for in the year ended 30/04/X0, however there is some depreciation from other categories of asset and this has already been reflected in the depreciation charge account'.

I don't know how the entry for Accumulated Depreciation on the existing asset has been calculated as £430??? Can anybody help???

Thank you!!!
Sign In or Register to comment.