21 On 30 June 2020, the end of the financial year. Turner Traders had R450 worth packaging material on hand if the entity had no packaging material on hand at the beginning of the financial year and have purchased packaging material amounting to R1350 during the year, what was the packaging material consumed for the year? A. None of the above B. R450 C. R900 D. R1 350 E R1 000 An asset that cost R65 000 with an accumulated depreciation amount of R23000 was sold for R50 000. The general journal entry to record the profit or loss on the sale of the asset would include: A. A credit to profit on sale of an asset of R15 000 and a debit to the asset realisation account of R15 000 3. Atbit to profit on sale of an asset of R15 000 and a credit to the asset realisation account of R15 000 C. A) A debit to profit on sale of an asset of R8 000 and a credit to the asset realisation account of RE000 D. Acredit to profit on sale of an asset of R8 000 and a debit to the asset realisation account of PS000 Question 17 of 74 2 Points A machine with an expected useful life of four years with a no residual value was purchased for R45 000 cash on 1 April 2020. By using the straight-line method calculate the depreciation expense for the year ending 30 June 2020. Round off your answer to the nearest Rand. A. R3 750 B. R2 813 C. None of the above D. R1 875 Basel Seca ABC Traders financial year ends on 31 December 2020. A tenant rented space in an office building from ABC Traders on 1 October 2020 at R2 750 per month and paying six months' rent in advance. The accountant recognised a current liability upon receipt of the R16 500. No year-end adjustment was recorded. As a consequence of overlooking the required adjustment: A. Revenue was overstated and liabilities were overstated B. None of the above C. Revenue was understated and liabilities were understated D. Revenue was overstated and liabilities were understated E. Revenue was understated and liabilities were overstated Rest Sello a