Edexcel IGCSEAccountingGeneral Applications6 Marks
Aisha started a business on 1 January 2018. She provided the following information. **Financial year ended 31 December 2018** * Motor vehicles were purchased for \40 000. * Furniture and fittings were purchased for 10 000. **Financial year ended 31 December 2019** * Additional furniture and fittings were purchased for \$8 000 on 1 July 2019. * Motor vehicles were depreciated at 25% per annum using the straight-line method. * Furniture and fittings were depreciated at 10% per annum using the reducing balance method. (b) Prepare the Furniture and Fittings Provision for Depreciation account for the years ended 31 December 2018 and 31 December 2019.
- (b)Prepare the Furniture and Fittings Provision for Depreciation account for the years ended 31 December 2018 and 31 December 2019.[6]
Mark scheme
Marking points from the official mark scheme. The mark or mark type is shown in brackets.
- C1 for correct heading (Furniture and Fittings Provision for Depreciation account) (1)
- M1 for calculation of depreciation for 2018 (10 000 x 10%) (1)
- A1 for correct depreciation for 2018 (1 000) (1)
- C1 for Balance c/d and b/d correctly shown (1)
- M1 for calculation of depreciation for 2019 for old (9000 x 10%) and new (8000 x 10% x 6/12) (1)
- A1 for correct depreciation for 2019 (900 + 400 = 1300) (1)
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