Cambridge IGCSE Accounting practice

Paper 2 structured question: Accounting for depreciation and disposal of non-current assets

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Paper

Marks

Topic

Accounting for depreciation and disposal of non-current assets

Exam-style question

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Paper 2Structured Written Paper2 marks

A company has a machine purchased for $10,000 with a residual value of $1,000 and a useful life of 5 years.

Description

Calculate the annual depreciation using the straight-line method.

a
Calculate the annual depreciation expense.
Your answer
Aim for approximately 2 distinct marking points.
[2]

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Paper 2Structured Written Paper3 marks

Description

Prepare the journal entry for the sale of the vehicle.

a
Prepare the journal entry for the sale of the vehicle.
Your answer
Aim for approximately 3 distinct marking points.
[3]