(a)[1]
State what depreciation of non-current assets means.
(b)[3]
State three reasons why non-current assets depreciate.
(c(i))[2]
Prepare the motor vehicles at cost account covering the year ended 31 May 2015.
(c(ii))[5]
Prepare the motor vehicle provision for depreciation account for the periods ended 31 May 2014 and 31 May 2015.
(c(iii))[1]
Calculate the profit or loss arising from disposal of the motor vehicle purchased on 1 June 2013.
(d)[3]
Advise Miu on the effect on her financial statements if she had not part-exchanged the motor vehicle but had sold it for $80000 cash.