Can anybody help with this question?? ACCOUNTS PREPARATION AAT LEVEL 3
Options
sophquinnx
Registered Posts: 2
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!!!
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!!!
0
Answers
-
Ok, I'm lost -
B/D suggets balance sheet items.
Can you upload the actual question?
I can tell you that in the real world of accounting you can not workout depreciation, and what for, without a fixed asset register. But this question has me perplexed as originally written.
Post the question, verbatim and I'll try to help you work through it, when I see it.
0
