11:27 Depreciation a... ACC 102 CA. Depreciation and Control accounts Antigament Question One Banky Inc is a technology company performing research for pharmaceutical companies. The finance director has contacted your financial consulting company to discuss issues relevant to the de-recognition of a non-current asset Required: Prepare notes for your meeting with the finance director which explain and justify the accounting treatment of these issues. Use an illustrative sample of an asset that was bought during a particular financial year and sold during the year of other financial year Question Two The following is Mr Ade's Sales ledger control account for July 2000 DE C N Hald 48,000 Bald 1.450 Credit Sales 718.480. Returns inwards 9.100 Cash 385.290 Discount Allowed 12.000 Bad Dcht Writion Of 1.150 Contra Set of 2,090 Baloid 25.170 785 400 2854050 Balbd 375,370 Required i Explain the significance of control accounts? it. Discuss one limitation of using control account What are the implications of the contra entry and the opening credit balance in the control account above W. State and brictly explain two (2) items relevant to sales and receivables) that should not be recorded in the Sales lediger control account 11:27 Depreciation a... ACC 102 CA. Depreciation and Control accounts Antigament Question One Banky Inc is a technology company performing research for pharmaceutical companies. The finance director has contacted your financial consulting company to discuss issues relevant to the de-recognition of a non-current asset Required: Prepare notes for your meeting with the finance director which explain and justify the accounting treatment of these issues. Use an illustrative sample of an asset that was bought during a particular financial year and sold during the year of other financial year Question Two The following is Mr Ade's Sales ledger control account for July 2000 DE C N Hald 48,000 Bald 1.450 Credit Sales 718.480. Returns inwards 9.100 Cash 385.290 Discount Allowed 12.000 Bad Dcht Writion Of 1.150 Contra Set of 2,090 Baloid 25.170 785 400 2854050 Balbd 375,370 Required i Explain the significance of control accounts? it. Discuss one limitation of using control account What are the implications of the contra entry and the opening credit balance in the control account above W. State and brictly explain two (2) items relevant to sales and receivables) that should not be recorded in the Sales lediger control account