accn3 helpWatch this thread
The point says "a motor vehicle with a net book value of £18450 was sold during the year for £15000. It was originally purchased on 1 may 2010"
My year is for 30 April 2013
Depreciation is charged in the year of purchase but not in the year of disposal.
Depreciated using reducing balance at 25% per annum
Info about motor vehicles last year was:
If anyone has the mark scheme that would be great
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Cost 112,500 Depreciation 49,200
Addition 24,950 Charge 17,450 (63,300 + 24,950 - 18450 x 25%)
Disposal 18,450 Elimination (9,225) (18450 x 25% x 2)
______ on Disposal _______
At 30 April 2013 119,000 57,425 = £61,575 NBV