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Module 1: Balance day adjustments in the general journal and ledger

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    7am

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XSIQ
*

Accounting - Topics - Application

Application

30 Jun.
Depreciation of vehicles
$7 125

Accumulated depreciation of vehicles

$7 125

Vehicles depreciated at 15% p.a.

30 Jun.
Profit and Loss a/c
7 125

Depreciation of vehicles

7 125

Depreciation posted to the Profit and Loss a/c

30 Jun.
Accumulated depreciation of vehicles
7 125
30 Jun.
Profit and Loss a/c
7 125

1 Jan.
Balance
10 000

30 Jun.
Balance
17 125
30 Jun.
Depreciation of vehicles
7 125

17 125

17 125

30 Jun.
Depreciation of vehicles
7 125

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