2024 – On 2nd January 2013 Ditto Clothing Consignments purchased showroom fixtures for 12000 cash expecting the fixtures to remain
Clothing Consignments – 2024
On 2nd January 2013, Ditto Clothing Consignments purchased showroom fixtures for $12000 cash, expecting the fixtures to remain in service for five years. Ditto has depreciated the fixtures on a straight-line basis with zero residual value. On 30 September 2014, Ditto sold the fixtures for $6200 cash.
Requirements
Record both depreciation for 2014 and the sale of fixtures on 30 September 2014, assuming that Ditto’s financial years ends in 30 June
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