ACCA F3 MCQ ledger control account
A company’s motor vehicles at cost account at 30 June 2006 is as follows:
| Motor Vehicle | at cost | ||
| Balance b/f | 80,000 | Disposal | 70,000 |
| Addition | 300,000 | Balance c/f | 310,000 |
| Total | 380,000 | Total | 380,000 |
What opening balance should be included in the following period’s trial balance for motor vehicles – cost at 1 July 2006?
Answer is $ 310,000.
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