Activity 7: Dealing with Fixed Assets and Depreciation

Part A

Your Task-In Part B below you must enter the amounts for Assets and for Provisions for Depreciation in the right place and work out:

1. the Net Book Value of each Fixed Asset; and
2. The Total Value of all Fixed Assets (you have to work this figure out)

When you have done this click on the "Check Button" to see if you have worked out the correct value of Total Fixed Assets. You will only get the correct answer if you type each item exactly as stated and work out the value of Total Fixed Assets. You can double click on words or numbers and drag them into place if you like.

Here is a list of the accounts pertaining to assets and their respective amounts.

• Provision for Depreciation on Motor Vehicles . . . 17500
• Provision for Depreciation on Fixtures and Fittings . . . 6000
• Provision for Depeciation on Office Equipment . . . 3500
• Office Equipment at Cost . . . 6500
• Motor Vehicles at Cost . . . 30000
• Fixtures and Fittings at Cost . . . 15000

Remember you have to work out the Net Book Value and the Total of Fixed Assets yourself!

Part B - Your Answer

Account	Amount	Net Book Value
Fixtures and Fittings at Cost
Provision for Depreciation on Fixtures and Fittings
Office Equipment at Cost
Provision for Depeciation on Office Equipment
Motor Vehicles at Cost
Provision for Depreciation on Motor Vehicles

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Total Fixed Assets