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
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
