Accounting 0452 · IGCSE · Accounting for depreciation and disposal of non-current assets

Accounting for depreciation and disposal of non-current assets — practice question

Manjit records depreciation of $1000 for her motor vehicles at the end of each financial year. Which journal entry would Manjit record at the end of each financial year?

  • ADebit income statement $1000; credit provision for depreciation of motor vehicles $1000
  • BDebit motor vehicles $1000; credit provision for depreciation of motor vehicles $1000
  • CDebit provision for depreciation of motor vehicles $1000; credit income statement $1000
  • DDebit provision for depreciation of motor vehicles $1000; credit motor vehicles $1000

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI