Question 4 a)Outline five (5) reasons for the discrepancy between the cash book and the bank statement. b) XYZ Ltd commenced business on 1st January 2014. On that day, XYZ Ltd bought equipment on credit from CCC Ltd equipment Ltd at P85 000. The equipment will be used for 5 years and the estimated value at the end of the 5 years is P25, 000. Calculate the depreciation for the equipment at 10% for the first three years using the reducing balance method
Question 4 a)Outline five (5) reasons for the discrepancy between the cash book and the bank statement. b) XYZ Ltd commenced business on 1st January 2014. On that day, XYZ Ltd bought equipment on credit from CCC Ltd equipment Ltd at P85 000. The equipment will be used for 5 years and the estimated value at the end of the 5 years is P25, 000. Calculate the depreciation for the equipment at 10% for the first three years using the reducing balance method
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 4
a)Outline five (5) reasons for the discrepancy between the
statement.
b) XYZ Ltd commenced business on 1st January 2014. On that day, XYZ Ltd bought
equipment on credit from CCC Ltd equipment Ltd at P85 000. The equipment will be
used for 5 years and the estimated value at the end of the 5 years is P25, 000. Calculate
the
balance method
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