A vehicle was purchased on 1 June 20*4 for 50,000. It was thought that it would be
Question:
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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Disposal Account Vehicle Date Particulars Debit Credit 31 May 208 Accumulated Depreciation 30000 Los...View the full answer
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