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  3. h 4a b b c d e f g 1 a company maintains its fixed

H 4A B B C D E F G 1 A company maintains its fixed...

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Accounting

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H 4A B B C D E F G 1 A company maintains its fixed assets at cost. Accumulated provision for depreciation accounts are kept for each asset. 2 At 31 December 20X8 the position was as follows: Total cost to date Total depreciation to date 4 Machinery 52950 25670 5 Office furniture 2860 1490 7 The following transactions were made in the year ended 31 December 20X9. 8 a) Purchased - machinery 2,840 and office furniture 320 9 b) Sold machinery which had cost 2,800 in 20X5 for 800 11 Depreciation is charged, on a straight line basis, at 10% on machinery and at 5% on office furniture on the basis of assets in use at the end 12 of the year irrespective of the date of purchase. 14 Required: 15 Show the asset and accumulated provision for depreciation accounts for the year ended 31 December 20x9 and the relevant 16 Statement of Financial Position entries at that date

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