Depreciation & Disposal of Non-Current Assets
1. Abaddon provided the following information for his auto repair business.
$ | ||
at 1 April 2023 | equipment at cost | 30 000 |
provision for depreciation of equipment | 8 130 | |
loose tools at valuation | 1 900 |
Equipment is depreciated at 10% per annum using the reducing balance method.
Additional loose tools were purchased in December 2023 for $250. No depreciation is provided on loose tools purchased during the financial year.
On 31 March 2024, loose tools more than 12 months old were valued at $1 550.
What was the depreciation charge for the year ended 31 March 2024?
equipment $ | loose tools $ | |
|---|---|---|
A | 2 187 | 350 |
B | 2 187 | 600 |
C | 3 000 | 350 |
D | 3 000 | 600 |
Ai এর মাধ্যমে
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