O-LevelAccountingAccounting procedures7707/11 · May/June 2022 · Q161 Mark

Atif depreciates his motor vehicles at a rate of 20% per annum using the reducing balance method. On 1 May 2021, Atif owned motor vehicles which cost $35000. At that date, the motor vehicles had been depreciated by $12600. What was the balance on Atif's provision for depreciation account on 1 May 2022?

A$17080

B$17920

C$19600

D$22400

✓ Correct answer

A: $17080

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2022 Paper 1 Variant 1, question 16.

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