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ACCT1511 T Accounts Questions and Answers

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Questions and answers for past examination question in ACCT1511

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ACCT1511 T Accounts Questions and Answers
Topics this document covers:
Economy Business Accounting Asset Corporate taxation Depreciation Expense
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Topics this document covers:
Economy Business Accounting Asset Corporate taxation Depreciation Expense
Sample Text:
Marks will be awarded for your correct t-account working. Marks will also be deducted for errors demonstrating a lack of understanding of fundamental aspects of accounting. Required: (1) Calculate the cash proceeds from Sale of Motor Vehicle. Accum. Dep'n. MV ($'000) DR CR 230 b/d Depn' Expense Accum. Dep'n MV Sold 90 150 c/d 290 380 380 290 Dr Cash/Proceeds Dr Accumulated Depreciation – Motor Vehicle Cr Gain on Sale Cr Motor Vehicle b...
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