A-LevelAccountingAccounting for non-current assets9706/12 · Feb/Mar 2022 · Q31 Mark
On 1 July 2021, Tim bought a delivery van for $10000. He paid an additional $900 to have racks fitted inside, and $800 for a year's insurance. Tim provides for depreciation at the rate of 10% per annum. A full year's depreciation is charged in the year of acquisition. What was the total for expenses recorded in Tim's income statement in respect of the van for the year ended 30 September 2021?
A$1290
B$1690
C$2100
D$2500
✓ Correct answer
A: $1290
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