O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2015 · Q121 Mark

Which journal entry records the annual depreciation of machinery of $500?

Aincome statement | 500 machinery | 500

Bincome statement | 500 provision for depreciation of machinery | 500

Cprovision for depreciation of machinery | 500 depreciation of machinery | 500

Dprovision for depreciation of machinery | 500 machinery | 500

✓ Correct answer

B: income statement | 500 provision for depreciation of machinery | 500

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2015 Paper 1 Variant 1, question 12.

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