Vincenzo’s statement of financial position at 31 August 2012 showed the following  balances in respect of non-current assets: In the year ending 31 August 2013 no purchases or sales of non-current...

Vincenzo’s statement of financial position at 31 August 2012 showed the following  balances in respect of non-current assets:

In the year ending 31 August 2013 no purchases or sales of non-current assets were made. Vincenzo depreciates non-current assets as follows:


Buildings: at 2% per annum on cost on the straight-line basis.


Motor vehicles: at 25% per annum on the reducing balance basis.


Fixtures and fittings (which were all purchased at the same time): over 10 years on the straight-line basis.


a) Calculate the total charge to Vincenzo’s income statement in respect of depreciation for the year ending 31 August 2013.


b) Show how non-current assets will be presented in Vincenzo’s statement of financial position at 31 August 2013.




May 26, 2022
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