Question

LECTURE 10 - DEPRECIATION
Exercise
Stacy purchased 3 Motor Vehicles for her business at a total cost of
GH¢60,000 on 1st Jan 2000. On 1st July 2001, Stacy added a new BMW
X5 which cost GHC100,000 to her fleet.
The firm's policy is to write of all Vehicles over 5 years and donate it to
charity thereafter
With 31st December as year end show for 3 years
i.
Motor Vehicles Account
ii. Accumulated Depreciation Account
iii. Depreciation Account
Using a) Straight line Method b) Reducing balance method
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Answer 1

Answer:

LECTURE 10 - DEPRECIATION

Exercise

Stacy purchased 3 Motor Vehicles for her business at a total cost of

GH¢60,000 on 1st Jan 2000. On 1st July 2001, Stacy added a new BMW

X5 which cost GHC100,000 to her fleet.

The firm's policy is to write of all Vehicles over 5 years and donate it to

charity thereafter

With 31st December as year end show for 3 years

i.

Motor Vehicles Account

ii. Accumulated Depreciation Account

iii. Depreciation Account

Using a) Straight line Method b) Reducing balance method

Answer 2

Answer:

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