Branson Ltd owns two delivery vehicles (each with a residual value of $5000 and useful life of

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Branson Ltd owns two delivery vehicles (each with a residual value of $5000 and useful life of 4 years) and uses the straight‐line method of depreciation. The business closes its accounting records annually on 30 June. The following events and transactions occurred during the first 3 financial years. Ignore GST.

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Prepare entries (in general journal form) to record the transactions of Branson Ltd as they relate to both vehicles to 30 June 2022.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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