Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / The following information appeared in the books of Harry's Traders for the financial year ended 29 February 2020

The following information appeared in the books of Harry's Traders for the financial year ended 29 February 2020

Accounting

The following information appeared in the books of Harry's Traders for the financial year ended 29 February 2020. Instructions: 5.1 Post to the following accounts in the General Ledger: 5.1.1 Equipment (cost) 5.1.2 Asset Disposal
Information: a. Tangible Assets balances 29 February 2020 1 March 2019 Vehicles 235 000 175 000 69 900 92 400 ? 87 600 Equipment Accumulated Depreciation on Vehicles Accumulated Depreciation on Equipment ? 42 200 ho b. On 1 December 2019, a new vehicle was purchased from BGT Motors on credit. No vehicles were sold. c. On 30 June 2019, old equipment was donated to an old age home. The accumulated depreciation on the furniture donated, was R18 300 on 1 March 2019. The new equipment to replace the old ones will only be purchased in the next financial year. d. Depreciation must be provided for as follows: Vehicles at 15% on cost. Equipment at 20% on the diminishing balance method.

Option 1

Low Cost Option
Download this past answer in few clicks

2.84 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE