Non-current assets at the end of Year 1 were recorded at cost, $500000, and carrying value, $360000. During Year 2, certain assets were sold. They had originally cost $100000 and had been depreciated by $40000. The depreciation charge for the remaining non-current assets in Year 2 was $30000. What was the carrying value of non-current assets at the end of Year 2?

Q: What topic does this question test?

This question tests Non-Current Assets and Depreciation in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Q: Which exam paper is this question from?

This question appeared in the Cambridge A-Level Accounting Feb/Mar 2023 examination, Paper 1 Variant 2 (9706_m23_qp_12.pdf).

Question

Non-current assets at the end of Year 1 were recorded at cost, $500000, and carrying value, $360000. During Year 2, certain assets were sold. They had originally cost $100000 and had been depreciated by $40000. The depreciation charge for the remaining non-current assets in Year 2 was $30000. What was the carrying value of non-current assets at the end of Year 2?

Oracle Prep · Accepted Answer

The correct answer is A: $270000.

✓ Correct Answer

📋 Examiner Report & Trap Analysis

🎯 Mark Scheme Breakdown

Unlock the Examiner's Analysis

About This A-Level Accounting Question

Topic

Source

Practice on Oracle Prep

Related Accounting Questions