Shaheels financial year ends on 31 March. On 1 April 207 he purchased furniture costing $4,400 for

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Shaheel’s financial year ends on 31 March. On 1 April 20–7 he purchased furniture costing $4,400 for use in the office. He decided to depreciate the furniture using the reducing balance method at 15% per annum.

Which journal entry did Shaheel make on 31 March 20–9?

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Cambridge IGCSE And O Level Accounting Coursebook

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Authors: Catherine Coucom

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Question Posted: Sep 16, 2021 01:45 AM

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Shaheels financial year ends on 31 March. On 1 April 207 he purchased furniture costing $4,400 for

Question:

Debit Credit A Income statement Provision for depreciation of furniture 561 561 B Income statement 660 Provision for depreciation of furniture 660 C Provision for depreciation of furniture 99 Furniture 99 D Provision for depreciation of furniture Depreciation of furniture 1221 1221

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