O-LevelAccountingAccounting proceduresOct/Nov 2017Paper 1 Q141 Mark
A café owner decided to use the revaluation method to calculate depreciation on the kitchen equipment. Kitchen equipment costing $3200 was purchased on 1 January 2016. This was expected to have a useful life of 4 years. Additional kitchen equipment was purchased during the year for $400. The total kitchen equipment was valued at $2900 on 31 December 2016. What was the depreciation charge for the year ended 31 December 2016?
A$300
B$700
C$800
D$900
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of accounting procedures within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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