O-LevelAccountingAccounting procedures7707/11 · May/June 2021 · Q131 Mark

Machinery which had cost $6290 was sold for $3100. The disposal account showed a profit on disposal of $584. How much was the depreciation up to the date of disposal and on which side of the disposal account was it recorded?

A$2606 on the credit side

B$2606 on the debit side

C$3774 on the credit side

D$3774 on the debit side

✓ Correct answer

C: $3774 on the credit side

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2021 Paper 1 Variant 1, question 13.

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