Depreciation Question agian
System
Posts: 100,534 🤖 Admin 🤖
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.
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.
0
Comments
-
Re:Depreciation Question agian
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?
0 -
Re:Depreciation Question agian
£7,500(bank)+ £2,000 (part exchange allowance)=£9,500
vehicles at cost (23,025-8,000+9,500)=24,525
Accumulated depreciation (12,750-4,625)=£8,125
Depreciation for the year ((24,525-8,125)x25%)=4,100
Updated accumulated depreciation (8,125+4,100)=£12,2250 -
Re:Depreciation Question agian
£7,500(bank)+ £2,000 (part exchange allowance)=£9,500
vehicles at cost (23,025-8,000+9,500)=24,525
Accumulated depreciation (12,750-4,625)=£8,125
Depreciation for the year ((24,525-8,125)x25%)=4,100
Updated accumulated depreciation (8,125+4,100)=£12,225
Is this right?0 -
Re:Depreciation Question agian
Thnx Shiwani,
It is absolutely right. i just saw ur message and i tried 2 do it like this as well. My tutor sent me an email for the answer of this paper and yes it was right.
thanks again,
I really apreciate it.
Bye
Naureen0