A-LevelAccountingDepreciation and Non-Current AssetsMay/June 2022Paper 1 Q41 Mark
A business depreciates its machinery at 10% per annum using the straight-line method on a month-by-month basis. The business's financial year end is 30 June. Machinery which had cost $6600 on 1 April 2020 was sold on 30 November 2021. The profit on sale was $350. What were the sale proceeds?
A$5150
B$5425
C$5850
D$6125
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of depreciation and non-current assets within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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