A-LevelAccountingAccounting for non-current assets9706/12 · May/June 2017 · Q41 Mark

The net book value of a company's non-current assets was as follows. $ at 1 January 2016 100000 at 31 December 2016 80000 During 2016 assets were sold for $20000, realising a profit on disposal of $5000. Depreciation charged for 2016 was $8000. What was the expenditure on new assets in 2016?

A$3000

B$5000

C$8000

D$15000

✓ Correct answer

A: $3000

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Topic: Accounting for non-current assets, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2017 Paper 1 Variant 2, question 4.

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The net book value of a company's non-current assets was as follows. $ at 1 January 2016 100000 at 31 December 2016 80000 During 2016 assets were sold for $20000, realising a profit on disposal of $5000. Depreciation charged for 2016 was $8000. What was the expenditure on new assets in 2016?

✓ Correct answer

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