accounting

Naddin's Carpets (Piy) Ldd is a company that manufactures carpots and home decornolated products such as curtains and blankets. The company uses various industhal imachinery rectired to manufacture the products. The following transactions relating to Machinery occurred durngg we mannam year ended June 2022: 1) A new matchine (Machine A) was purchased from an overseas supplier and paid for on 1 January 2022. The machine was purchased FOB destination point for 13000 , USD. The destination point was Aladdin's Carpots (Pty) Ltd's city's seaport. The machinery arrived at Aladdin's Carpets (Pty) Ltd's city's seaport on 15 January 2022. Transportation costs relating to the delivery of this new machinery from the seaport to Aladdin's Carpets (Pty) Lid's premises cost R9 000 and were paid in cash on the same day (15 January) after it arrived at their premises. The follimina ware exchange rates existed on the various dates: 2) - Machine A was installed in a workstation at Aladdin's Carpets (Pty) Lta's factory o 1 February 2022 at a cost of R8 100 in cash after which it became available to us for making rugs. R201900+ 2810021400010123 = R216000 21000107122 On 31 March 2022, existing outdated machinery (Machine B) was sold for R40 oC The machinery was originally purchased on 1 January 2018 at a cost of R74 000 - On 1 May 2022, management decided that in order to be more profitable, the : chinery purchased on 1 January 2022 i.e. Machine A would be used to create 7) - Additional intormation: - All Machines are depreciated at 10\% p.a. on a straight-line basis. - All machines are considered to have a residual value of zero Rand. - Management has elected to account for all machines at the cost model. REQUIRED: 1.1 Prepare the following General Ledger Accounts of Aladdin's Carpets (Pty) Ltd f the financial year ended 30 June 2022. Include all dates and close off accounts at the end of the financial year. VAT may be ignored. Clearly show workings. - Machinery and - Accumulated depreciation: Machinery 1.2 Prepare the General Journal entry required at the end of the financial year to account for the redundant machinery (Machine C). Dates and narrations are required. Naddin's Carpets (Piy) Ldd is a company that manufactures carpots and home decornolated products such as curtains and blankets. The company uses various industhal imachinery rectired to manufacture the products. The following transactions relating to Machinery occurred durngg we mannam year ended June 2022: 1) A new matchine (Machine A) was purchased from an overseas supplier and paid for on 1 January 2022. The machine was purchased FOB destination point for 13000 , USD. The destination point was Aladdin's Carpots (Pty) Ltd's city's seaport. The machinery arrived at Aladdin's Carpets (Pty) Ltd's city's seaport on 15 January 2022. Transportation costs relating to the delivery of this new machinery from the seaport to Aladdin's Carpets (Pty) Lid's premises cost R9 000 and were paid in cash on the same day (15 January) after it arrived at their premises. The follimina ware exchange rates existed on the various dates: 2) - Machine A was installed in a workstation at Aladdin's Carpets (Pty) Lta's factory o 1 February 2022 at a cost of R8 100 in cash after which it became available to us for making rugs. R201900+ 2810021400010123 = R216000 21000107122 On 31 March 2022, existing outdated machinery (Machine B) was sold for R40 oC The machinery was originally purchased on 1 January 2018 at a cost of R74 000 - On 1 May 2022, management decided that in order to be more profitable, the : chinery purchased on 1 January 2022 i.e. Machine A would be used to create 7) - Additional intormation: - All Machines are depreciated at 10\% p.a. on a straight-line basis. - All machines are considered to have a residual value of zero Rand. - Management has elected to account for all machines at the cost model. REQUIRED: 1.1 Prepare the following General Ledger Accounts of Aladdin's Carpets (Pty) Ltd f the financial year ended 30 June 2022. Include all dates and close off accounts at the end of the financial year. VAT may be ignored. Clearly show workings. - Machinery and - Accumulated depreciation: Machinery 1.2 Prepare the General Journal entry required at the end of the financial year to account for the redundant machinery (Machine C). Dates and narrations are required