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Post Info TOPIC: Depreciation-Help please
corinne


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Depreciation-Help please
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 Hi Everyone
 I am trying to complete my assignment and I am stuck on one of the questions. When selling a vehicle and completing the disposal account do you record the depreciation figure for the year of sale only or the total accumulated depreciation figure?
 Help gratefully appreciated, Corinne
 

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Dustin57


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When you dispose of a fixed asset you never charge depreciation in the year of disposal. Therefore it is the accumulated depreciation figure you need to use.

Hope this helps!


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"People who are exceptionally good in business arent so because of what they know but because of their insatiable need to know more"
corinne


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Thank you Dustin that does help. Although in this question it did say they charge a full years depreciation in the year of sale.
I can complete my assignment now.

Best wishes, Corinne

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Suffolker


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Hey Corinne, Is it the Level 3 Bookkeeping Diploma you are doing?

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