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Click to see additional instructions SA Attorneys is a registered VAT vendor. The following information was recorded in the accounting records of SA Attorneys as
Click to see additional instructions SA Attorneys is a registered VAT vendor. The following information was recorded in the accounting records of SA Attorneys as at 28 February 2021 (the financial year-end): Computer equipment at cost Vehicles at cost Accumulated depreciation: Computer equipment (1 March 2020) Accumulated depreciation: Vehicles (1 March 2020) R 529 650 957 370 279 970 290 430 The computer equipment is depreciated at 20% per annum, using the straight-line method. Vehicles are depreciated at 30% per annum, using the reducing balance method. What will be the depreciation to be recorded on the computer equipment and on vehicles on 28 February 2021? NB: 1. Do not type the amount with any spaces as separators for thousands (eg: 12141,72) 2. Use a comma to indicate any decimals (eg: 1000,01) 3. You must enter cents even if it is 0 (eg,00) 4. Round all amounts to the nearest cent Solution: Depreciation on computer equipment: R Depreciation on vehicles: R
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