Depreciation (2)
Quiz
•
Business
•
6th - 8th Grade
•
Practice Problem
•
Medium
KWUN NG
Used 13+ times
FREE Resource
Enhance your content in a minute
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are the accounting entries when we remove the accumulated depreciation of non-current assets (NCA)?
Hint: Step 2
Dr. Accumulated depreciation
Cr. Disposal
Dr. Depreciation on NCA
Cr. Accumulated depreciation
Dr. Bank/cash
Cr. Disposal
Dr. Disposal
Cr. Cost of NCA
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The office equipment was purchased on 1 October 2020, Based on a full-year basis depreciation policy,
How many years should be counted when calculating accumulated depreciation?
(For the year ended 31 December 2024)
5 years
6 years
7 years
None of them
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A lorry (貨車) was purchased on 1 May 2023, the financial year ended on 31 October 2023. Accounting to the monthly basis policy, how many months should be counted when calculating depreciation?
1 year
8 months
6 months
5 months
4.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Ada purchased a computer (at the cost of $30,000) on 1 October 2023, the depreciation rate is 30%.
What is the annual depreciation expense for the year ended 31 december 2023?
(by using a monthly basis)
$2,250
$5,250
$4,560
$9,000
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the first step when we try to record the disposal (變賣)
Proceeds received
Take away NCA's Acc. Dep.
Record disposal profit/loss
Take away the cost of NCA
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
If the net book value is more than (>) disposal value, it should be recorded in the loss on disposal
Yes
No
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the double entries to record the loss on disposal?
Dr. Loss on disposal
Cr. Disposal account
Dr. Gain on disposal
Cr. Disposal account
Dr. Disposal account
Cr. Gain on disposal
Dr. Disposal account
Cr. Loss on disposal
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
13 questions
MAKSUDEGA SEOTUD MÕISTED
Quiz
•
6th Grade
10 questions
QUIZ TEORI INVESTASI
Quiz
•
1st - 10th Grade
10 questions
Methods of production
Quiz
•
7th Grade
7 questions
Component 3 - Promotion 1
Quiz
•
8th - 11th Grade
10 questions
Interview Protocols
Quiz
•
6th - 8th Grade
10 questions
Elements of a Contract -Business Law
Quiz
•
KG - 12th Grade
9 questions
Marketing Philosophies Review
Quiz
•
KG - 11th Grade
10 questions
S2 Subject Choice Quiz
Quiz
•
8th - 10th Grade
Popular Resources on Wayground
8 questions
2 Step Word Problems
Quiz
•
KG - University
20 questions
Comparing Fractions
Quiz
•
4th Grade
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
10 questions
Latin Bases claus(clois,clos, clud, clus) and ped
Quiz
•
6th - 8th Grade
22 questions
fractions
Quiz
•
3rd Grade
7 questions
The Story of Books
Quiz
•
6th - 8th Grade
