A motor vehicle which cost 12,000 was bought on credit from Trucks Ltd on 1 January 2009.

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A motor vehicle which cost £12,000 was bought on credit from Trucks Ltd on 1 January 2009. Financial statements are prepared annually to 31 December and depreciation of vehicles is provided at 25 per cent per annum under the reducing balance method. Required: Prepare the motor vehicle account and the accumulated provision for depreciation on motor vehicles account for the first two years of the motor vehicle’s working life.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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