04-01-2010, 03:59 AM
My questing is how do i calculate Depreciation and accumulated depreciation on this below question? please help me
Opened business bank account and paid in £9,000 of own money.
Introduced £300 of own money as opening cash balance to be kept in the shop.
Introduced own second-hand tools into the business. Those tools with a cost value of £700 were allocated for hire, while those with a cost value of £600 were allocated as tools for resale.
Bought, by cheque, hardware for resale £985.
Bought, by cash, stationery £30.
Bought, by cheque, tools for resale £1,790.
Bought tools for resale from Cherry Ltd on credit £590.
Bought tools for hire from Welland plc on credit £640.
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Opened business bank account and paid in £9,000 of own money.
Introduced £300 of own money as opening cash balance to be kept in the shop.
Introduced own second-hand tools into the business. Those tools with a cost value of £700 were allocated for hire, while those with a cost value of £600 were allocated as tools for resale.
Bought, by cheque, hardware for resale £985.
Bought, by cash, stationery £30.
Bought, by cheque, tools for resale £1,790.
Bought tools for resale from Cherry Ltd on credit £590.
Bought tools for hire from Welland plc on credit £640.
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