Asset Register and Depreciation Study

School: TAFE NSW - Sydney Institute - Course: BSBFIA 401 - Subject: Accounting

Asset Register Card ASSET NAME Asset NumberREF2262Purchase Date31/3/X1 Class/CategoryPlant and EquipmentPurchased FromTarrawana refrigeration Purchase Price$ 8,188.00 ConditionNew Residual Valuenot applicable Effecive Life10 years Serial Number887JNB8965Depreciation MethodDiminishing Value DateDetailsGST $Depreciation $31/3/X1Purchase cool room9,006.80 8,188.00 / / / 30/6/X1Depreciation(3 months)$ 409.40 $ 409.40 $ 7,778.60 30/6/X2Depreciation(1 year)$ 1,555.72 $ 1,965.12 $ 6,222.88 30/6/X3Depreciation(1year)$ 1,244.58 $ 3,209.70 $ 4,978.30 30/9/X3Depreciation to disposal$248.92 $ 3,458.61 $ 4,729.39 Sale $ 2,500.00 -$ 2,229.39 DETAILS OF DISPOSAL DateNameParticularsProfit/(Loss) Amount $ 30/9/X3The Big Orange Fruit Wholesal $ 2,500.00 sales$2,229.39Cost (including GST) $Accumulated Depreciation $ Written-down value/carrying amount $ Gain/(Loss)on disposal Amount (excluding GST) $

Haywards Bay Seafoods General Journal GJ1 DateDetailsRefDebit 31/3/X1Plant & Equipment$ 8,188.00 GST Receivable$ 818.80 Account Payable (Purchase cool room credit Inv R450023) 30/6/X1Depreciation expense$ 409.40 Accumulated depreciation-Plant & Equipment (Depreciation to 30/6/X1) 30/6/X2Depreciation expense$ 1,555.72 Accumulated depreciation-Plant & Equipment (Depreciation to 30/6/X2) 30/9/X3Depreciation expense$ 248.92 Accumulated depreciation (Depreciation to the date of disposal) Disposal-Plant & Equipment$ 8,188.00 Plant & Equipment (Transfer on disposal of Plant & Equipment) Accumulated depreciation $ 3,458.61 Disposal-Plant & Equipment Bank $ 2,750.00 Disposal - Plant & Equipment GST payable Loss on disposal $ 2,229.39 Disposal-Plant & Equipment (Loss on disposal of Plant & Equipment)