Chat with AIExam 10: Noncurrent Assets
Exam 1: Introduction to Financial Accounting29 Questions
Exam 2: Measuring and Evaluating Financial Position and Financial Performance32 Questions
Exam 3: The Double-Entry System31 Questions
Exam 4: Record-Keeping26 Questions
Exam 5: Accrual Accounting Adjustments26 Questions
Exam 6: Financial Reporting Principles, Accounting Standards and Auditing16 Questions
Exam 7: Internal Control and Cash19 Questions
Exam 8: Accounts Receivable and Further Record-Keeping19 Questions
Exam 9: Inventory28 Questions
Exam 10: Noncurrent Assets24 Questions
Exam 11: Liabilities21 Questions
Exam 12: Investments and Shareholders Equity26 Questions
Exam 13: Revenue and Expense Recognition: Additional Concepts23 Questions
Exam 14: The Statement of Cash Flows36 Questions
Exam 15: Financial Statement Analysis31 Questions
Exam 16: Accounting Policy Choices17 Questions
Exam 17: Sustainability Reporting13 Questions
Select questions type
Jacques Ltd purchased a truck for $45 000 on 1 July 2018. It had an estimated useful life of three years. It was depreciated using the straight-line method. The financial year ends on 30 June. What was the accumulated depreciation at 30 June 2020?
(Multiple Choice)
5.0/5 
(33)
(33) Norman Ltd purchased a motor vehicle for $45 000 on 1 July 2017. The vehicle was expected to have a four-year life span. The financial period ends on 30 June. Assuming Norman Ltd used the reducing balance method of depreciation and a rate of 40 per cent, the balance of the accumulated depreciation account at 30 June 2019 was:
(Multiple Choice)
4.7/5 (29)
(29) Equipment that cost $550 000 and had accumulated depreciation of $300 000 was sold for $180 000. This results in a:
(Multiple Choice)
4.8/5 (40)
(40) A truck that cost $250 000 and had accumulated depreciation of $180 000 was sold for $50 000 cash in June 2020. This transaction will:
(Multiple Choice)
4.7/5 (34)
(34) 
Filters
- Essay(0)
- Multiple Choice(0)
- Short Answer(0)
- True False(0)
- Matching(0)