Question: Question 5 (60 marks) The table below show a list of fixed assets purchase by Delta Construction Limited located at 37 Hagley Park Road Kingston

 Question 5 (60 marks) The table below show a list of

fixed assets purchase by Delta Construction Limited located at 37 Hagley Park

Question 5 (60 marks) The table below show a list of fixed assets purchase by Delta Construction Limited located at 37 Hagley Park Road Kingston 11, as at December 31, 2022. The directors are requesting that a Fixed Assets Register using appropriate template is created and maintained for all Motor vehicles on the books as at December 31,2022. The policy states that a full year depreciation is to be calculated on the cost price of all assets on the books irrespective of the month of purchase in each financial period using a rate of 20% per annum. Schedule of Fixed Assets Purchase (Motor Vehicles) Required: Prepare the fixed assets ledger accounts for the period 2019 to December 31, 2022 (10 Marks) a. Prepare the Provision for depreciation account for the period 2019 to December 31,2022 (20 Marks) b. Prepare the Fixed Asset Register for the period 2019 to December 31, 2022, which must be reconciled with the General Ledger as at that date. (20 Marks) c. The Ford Truck purchased on March 2019 was temporary out of service and the manager agreed to transfer the Ford 150 pickup truck purchase April 2021 as a temporary replacement. Draft and prepare a suitable document to show the transfer of this assets

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f