Introduction To Bookkeeping: Depreciation
Muhtasari
A delivery van rolls out of the showroom worth $20,000. Five years later it is still doing its job, but nobody would pay $20,000 for it. Nothing broke, no single event happened, yet its value has quietly fallen every single year it has been used. Accounting has to capture that fall, spread it fairly across the years the van earns its keep, and record it properly in the ledger.
In this lesson you will learn what causes depreciation, how to calculate it using the straight line and reducing balance methods, how to record it in the ledger accounts, and how to calculate the profit or loss when a non-current asset is finally sold.
Malengo
- Explain the causes of depreciation
- Distinguish between straight line and reducing balance methods of depreciation
- Calculate and record depreciation in the books of account
- Calculate and record profit or loss of disposal of non-current assets
Maelezo ya Somo
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Tathmini ya Somo
Hongera kwa kukamilisha somo la Introduction To Bookkeeping: Depreciation. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.
Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.
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- Which of the following is an economic cause of depreciation? A) Wear and tear B) Obsolescence C) Rust D) Depletion Answer: B
- A machine costs $12,000 with a residual value of $2,000 and a 5 year useful life. What is the annual straight line depreciation charge? A) $2,000 B) $2,400 C) $2,500 D) $10,000 Answer: A
- Equipment costing $8,000 is depreciated at 25% reducing balance. What is the depreciation charge for year 2? A) $2,000 B) $1,500 C) $2,500 D) $1,000 Answer: B
- On disposal of a non-current asset, which two figures are transferred into the disposal account before the sale proceeds? A) Cost and revenue B) Cost and provision for depreciation C) Provision for depreciation and drawings D) Cost and capital Answer: B
- An asset with a carrying value of $6,000 is sold for $6,800. What is the result? A) Loss on disposal of $800 B) Profit on disposal of $800 C) No profit or loss D) Profit on disposal of $6,800 Answer: B
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Pakua programu ya Green Bridge CBT kwenye simu yako au kompyuta yako ili kupata maelezo kamili ya masomo, maswali ya mazoezi, na mengi zaidi.
Inapatikana kwenye programu ya Green Bridge
Pakua programu ya Green Bridge CBT kwenye simu yako au kompyuta yako ili kupata maelezo kamili ya masomo, maswali ya mazoezi, na mengi zaidi.
Vitabu Vinavyopendekezwa
Fanya Mazoezi ya Maswali ya Majaribio
Ungependa kufanya mazoezi ya maswali ya majaribio kuhusu Introduction To Bookkeeping: Depreciation? Pakua programu ya Green Bridge CBT ili kupata maswali ya majaribio na tathmini kamili za mazoezi kuhusu mada hii.
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