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becca21


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Extended Trial Balance
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I am studying an AAT course from home and completely confused as to how I show the disposal figure on the extended trial balance. The question is: A vehicle was disposed of during the year, the original cost was £12,000, the accumulated depreciation for the vehicle is £5,000 and the proceeds received for the vehicle was £3,000 by cheque. I would like to know the entrys on the extended trial balance. Any help would be great :)



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gbm


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cr vehicle cost £12,000
dr vehicle dep'n £5,000
dr bank £3,000
dr loss on disposal £4,000

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Nick

Website: www.gbmaccounts.co.uk
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