Depreciation - checkpoint 2

The following entry is the balance day adjustment for depreciation.

Property, plant and equipment is an example of

$14,609 represents the written down cost or carrying amount of the asset

Depreciation on office equipment would be

Depreciation is purely book entries - no cash changes hands.

GST should be included in the depreciation calculation

This formula is used for what method of depreciation?

Which of the following figures represents the historical cost of the equipment?

Insurance is generally an example of

The allocation of the cost price of an asset over its useful life is called

If purchase price is $55,000 (inc GST) and installation is $6,600 (inc GST) what is the total cost used in the formula

Amortisation is the gradual writing off of the cost of intangible assets.

Fuel for a vehicle is

What account would insurance, depreciation and sales salaries be closed to?

Expenditure paid to install a machine into location and ready for use is

Expenditure to maintain an asset in an efficient working condition is other expenditure

$14,609 represents the amount the asset could be sold for.

The asset register is a collection of details about individual assets.

What is the depreciation to be charged at 30 June 2020?

This is an accurate representation of the property, plant and equipment