O-LevelAccountingAccounting procedures7707/11 · May/June 2023 · Q171 Mark

Rashid provided the following balances at 31 December. machinery at cost $52000 provision for depreciation of machinery $23000 Depreciation for the year was calculated at 20% on cost and is included in the balance for the provision. After the balances had been extracted, it was found that machinery repairs costing $2000 had been debited in error to the machinery account. What is the correct balance on the provision for the depreciation of machinery account?

A$21000

B$22600

C$23400

D$25000

✓ Correct answer

B: $22600

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2023 Paper 1 Variant 1, question 17.

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