Accounting Multiple Choice Question – 24 September 2023

A car cost £60,000 to purchase.

The car was later sold for £8,000 and the loss on disposal was £3,000.

What was the accumulated depreciation on the car on disposal?

Select ONE answer:

1. £46,000
2. £49,000
3. £52,000
4. £55,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct = Dr Cost £60k Cr Bank £8k Cr Loss £3k == > Depreciation is the difference £49k
3. Not correct
4. Not correct

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