Depreciation and Capital versus Revenue Expenditure · CSEC Principles of Accounts

24 past-paper questions on Depreciation and Capital versus Revenue Expenditure, part of Section 6: Accounting Adjustments, from every CSEC Principles of Accounts paper on Quelpr.

1. 3(a)(i)2 marks· CSEC Principles of Accounts · January 2012 · Paper 2Define the term 'depreciation'.
2. 3(a)(ii)2 marks· CSEC Principles of Accounts · January 2012 · Paper 2Identify the double entry used to record depreciation.
3. 3(a)(iii)3 marks· CSEC Principles of Accounts · January 2012 · Paper 2State THREE causes of depreciation.
4. 3(b)(i)11 marks· CSEC Principles of Accounts · January 2012 · Paper 2Copy and complete the table calculating the cost or net book value before depreciation, depreciation expense for the year, accumulated depreciation, and net book value after depreciation for the first THREE years of the…
5. 3(b)(ii)2 marks· CSEC Principles of Accounts · January 2012 · Paper 2Draw up the Balance Sheet extract for the equipment at the END of the third year of use.
6. 4(a)(i)4 marks· CSEC Principles of Accounts · January 2014 · Paper 2Calculate the depreciation expense to be charged for EACH of the TWO years ending 31 December 2011 and 31 December 2012.
7. 4(a)(ii)5 marks· CSEC Principles of Accounts · January 2014 · Paper 2Draw up the Provision for Depreciation Account for the TWO years.
8. 4(a)(iii)4 marks· CSEC Principles of Accounts · January 2014 · Paper 2Prepare the Fixed Assets section of the balance sheet for the limousine as at 31 December 2011.
9. 3(b)2 marks· CSEC Principles of Accounts · January 2016 · Paper 2List and calculate the total value of Revenue Expenditure in the month of May for Mr Martinez.
10. 4(a)(i)2 marks· CSEC Principles of Accounts · January 2017 · Paper 2Name the TWO financial statements which were affected by the depreciation method error.
11. 4(b)(i)5 marks· CSEC Principles of Accounts · January 2017 · Paper 2Calculate the balance which had been brought down in error in the Provision for Depreciation Account as at 1 September 2015 using the table provided.
12. 4(b)(ii)7 marks· CSEC Principles of Accounts · January 2017 · Paper 2Calculate the amount that should appear in the Provision for Depreciation Account as at 31 August 2016 using the reducing balance method.
13. 6(c)(ii)3 marks· CSEC Principles of Accounts · January 2017 · Paper 2Calculate the total depreciation expense to be subtracted.
14. 4(a)10 marks· CSEC Principles of Accounts · May/June 2011 · Paper 2Complete the worksheet provided for the required adjustments numbered 2 to 7 by: (i) entering EACH item from B. C. Yen's Trial Balance which requires adjustment, and (ii) showing how EACH item is to be adjusted and the…
15. 1(a)12 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2Prepare an Income Statement for ConEct for the year ended 31 January 2012.
16. 7(a)2 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2From the given transactions, identify ONE item of revenue expenditure and ONE item of capital expenditure for Bacolet Gray.
17. 4(a)(i)2 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Define fixed asset and provide ONE example.
18. 4(a)(ii)2 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Define useful life and provide ONE example.
19. 4(a)(iii)2 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Define net book value and provide ONE example.
20. 4(b)(i)3 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Calculate the depreciation charge on the delivery van for the year ended 30 April 2014 using the straight line method, showing working clearly.
21. 4(b)(ii)4 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Draw up a balance sheet extract for the van showing cost, accumulated depreciation and net book value as at 30 April 2014.
22. 4(b)(iii)3 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Calculate the depreciation charge on the industrial stove for the year ended 30 April 2014 using the reducing balance method, showing working clearly.
23. 4(b)(iv)4 marks· CSEC Principles of Accounts · May/June 2014 · Paper 2Draw up the Provision for Depreciation Account for the industrial stove starting with the accumulated depreciation balance brought forward as at 01 May 2013.
24. 6(b)4 marks· CSEC Principles of Accounts · May/June 2015 · Paper 2On the form provided, classify EACH expenditure item as capital or revenue, and insert a check mark to indicate whether it is reported in the Income & Expenditure Account or in the Balance Sheet.