A vehicle was purchased on 1 June 20*4 for 50,000. It was thought that it would be

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A vehicle was purchased on 1 June 20*4 for £50,000. It was thought that it would be used for six years and then sold for scrap worth £2,000.

The machine was sold for £16,500 on 31 May 20*8 after only four years’ use.

Required

Prepare a disposal account for the vehicle.

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Introducing Accounting For AS

ISBN: 9780340959404

2nd Edition

Authors: Ian Harrison

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Question Posted: Aug 23, 2023 04:38 AM

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A vehicle was purchased on 1 June 20*4 for 50,000. It was thought that it would be

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Disposal Account Vehicle Date Particulars Debit Credit 31 May 208 Accumulated Depreciation 30000 Los...View the full answer

Introducing Accounting For AS

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