Unit 5 ETB Question-please help!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Am doing some practise questions and dont have the answers so desperately need helpas this isdriving me mad. if my question said the following:<BR>"a motor vehicle which had cost £10000 on which depreciation of £6000 had been provided had been sold on 01.april for £4000. THE PROCEEDS HAD BEEN CREDITED TO THE MOTOR VEHICLES COST ACCOUNT. NO OTHER ENTRY HAD BEEN MADE FOR THIS DISPOSAL APART FROM IN THE CASH BOOK"<BR><BR>do i assume the amount had been debited to the bank if it says it had been entered in the cash book?<BR><BR>how do i correct the error of the proceeds going to motor vehicles cost account when they should go to disposals? <BR><BR>im ok as long as i know that the debit side has gone to bank. <BR><BR>hate the way they word some of these questions!!!!<BR>anyone's help would be appreciated<BR><BR>my email is joeyrey1984@aol.com

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Unit 5 ETB Question-please help!!!

    Hi<BR><BR>"THE PROCEEDS HAD BEEN CREDITED TO THE MOTOR VEHICLES COST ACCOUNT. NO OTHER ENTRY HAD BEEN MADE FOR THIS DISPOSAL APART FROM IN THE CASH BOOK"<BR><BR>as mentioned that no other entry made, so you shouldn't assume anything, just start making the journal entries and correct this mistake.<BR><BR>I have sent you my answers, check it and let me know please.<BR><BR>

Categories

Privacy Policy