O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2025 · Q171 Mark

An asset originally costing $20000 had been depreciated by $15000 when it was sold for $3000. Which entry will be shown in the disposal account to record the amount to be transferred to the income statement?

A$2000 credit

B$2000 debit

C$8000 credit

D$8000 debit

✓ Correct answer

A: $2000 credit

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2025 Paper 1 Variant 2, question 17.

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