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2 marksDepreciation and Capital versus Revenue Expenditure

CSEC Principles of Accounts · January 2012 · Paper 2 · Question 3(b)(ii)

Tamarind Company bought equipment costing $80 000 and charged depreciation at a rate of 10% per annum using the reducing-balance method.

Draw up the Balance Sheet extract for the equipment at the END of the third year of use.

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Other parts of this question

  1. 3(a)(i)Define the term 'depreciation'.[2 marks]
  2. 3(a)(ii)Identify the double entry used to record depreciation.[2 marks]
  3. 3(a)(iii)State THREE causes of depreciation.[3 marks]
  4. 3(b)(i)Copy and complete the table calculating the cost or net book value before depreciation, depreciation expense for the year, accumulated depreciation, and net…[11 marks]

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