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Below is an extract from the accounts for the financial year ended 31 December 2020 for Souls Food, a sole trader who has been in

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Below is an extract from the accounts for the financial year ended 31 December 2020 for "Souls Food", a sole trader who has been in the food and beverage business for the past fifteen (15) years. Item Bank Balance Capital Credit Sales Drawings Electricity and Gas Plant and Machinery at Cost Loan due for Repayment 20.12.2027 Loan Interest paid Motor Vehicles at Cost Motor Vehicles Expenses Opening Inventory Purchases (thousands) 40,200 160,000 800,000 40,500 7.300 151,200 500,000 22.000 52.000 14,400 I 29,500 28,200 Additional information: The Motor Vehicles and Plant and Machinery need to be depreciated. 1. Motor Vehicles will be depreciated at 25% using a reducing balance method. ii. Plant and Machinery will be depreciated over ten years. 1. Calculate the annual depreciation that should be charged to the Statement of Profit on Loss (Income Statement) for "Souls Food for the year ended 31 December 2020. (5 marks) 2. What are the carrying amounts of the non-current assets that will be shown in the Statement of Financial Position at 31 December 2020

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