A company's plant and machinery ledger account for the year ended 30 September 2012 was as follows:

2011

1 Oct Balance

1 Dec Cash – addition

381,200

18,000 399,200

2012

1 Jun Disposal account – cost of asset sold

30 Sep Balance

36,000 363,200 399,200

PLANT AND MACHINERY – COST KK

(b) The company's policy is to charge depreciation at 20% per year on the straight line basis, with proportionate depreciation in years of purchase and disposal.

What is the depreciation charge for the year ended 30 September 2013.

Answer rating: 100% (QA)

Given Data Date Particular Amount 01Oct11 Opening Bal 381200 01Dec11 Purchase 18000 01Jun12 Sa... View the full answer