113 Marks) Question 2 From the data in the table below, calculate depreciation charge for each asset and clearly show the depreciation charge for each year Date of Non- Depreciation Cost Purchase Disposal Current Method Asset 01-Jan-15 31-Dec-17 Furniture Reducing Balance Date of Residual Expected Rate of Value Life Depreciatior 4 Years 25% 200.000 10.000 25% 4 Years 01-Mar-15 01-Feb-18 Computer 180.000 20.000 01-Jan-15 Reducing Balance Straight Line Straight Line 20% 20% 31-Oct-18 5 Years 5 Years Equipment 400.000 80.000 800.000 50.000 01-Jul-16 28-Feb-19 Motor Vehicle ug Forward Question 3 Jet Link's Trial Balance as at 31 December 2017 18 Marks OR CR Capital Drawings Land and buildings into Vehicles at Cost Equipment al cost Accumulated depreciation Vehicles (1 Jan 2017 Accumulated depreciation Equipment (1 Jan 2011) Trading inventory (1 Jan 2017) Trade Receivables Allowance for credit losses Bank 12,000 56.700 52.000 30.000 Petty Cash Trade payables Sales Purchases Sales returns Discount received Water and electricity Credit losses Telephone Carriage on purchases Rent expense Salaries and wages Bank Charges Rates and taxes 10,400 B.130 8.000 5,200 500 4.900 100 22 200 202,420 95,130 2.420 350 3,550 300 2.450 2,200 30,000 36,300 100 4,800 1,800 670 358,620 358,620 Consumables Stationery Additional information: 1. The physical stock count on 31 December 2017 showed inventory of N$10 000 2. Land and buildings purchased on 1 June 2014, are situated on Stand 1001, Windhoek, and are not depreciated. Depreciation on other assets must still be provided for as follows: Vehicles at 20% per annum on the straight line method, and Equipment at 10% per annum on the reducing balance method. Required: 1. Prepare the following statements: 4 Bank Moving a) Statement of profit or loss for the year ended 31 Dec 2017 (10 Marks) Standal DY GUIDE b) Statement of financial position as at 31 December 2017 [8 Marks]