O-LevelAccountingAccounting procedures7707/12 · May/June 2012 · Q171 Mark

A machine costing $60 000 is depreciated by 25% per annum on the reducing (diminishing) balance method. What was the depreciation charge for the second year?

A$11 250

B$15 000

C$26 250

D$30 000

✓ Correct answer

A: $11 250

Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 2, question 17.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Chan and David were sole traders with the following assets and liabilities on 31 March 2009. | | Chan $ | David $ |-…

Hassan maintains a sales journal, purchases journal, sales returns journal and a purchases returns journal. At the e…

Ann is a trader. On 1 April 2011 Cindy's account in Ann's ledger showed a credit balance of $520. The following trans…

Jane, a trader, withdrew $50 from the business bank account for office use. How is this recorded in Jane's books?

A trial balance fails to agree. The credit column totals $10 000. Two errors are then found. The sales journal has b…

Winston decides to write off a debt due to him from Leroy for goods sold on credit. How is this recorded in Winston'…