On 31 August 2018, Musk Traders purchased a machine on credit for a cost price of R402 500

(including VAT at 15%). Machinery is depreciated over six years according to the straightline basis

and there is no residual value on this machine, as it is highly specialised. Musk Traders has a

30 June yearend.

Required:

Calculate the depreciation and accumulated depreciation for 2019 and 2020.

Round to the nearest Rand. Show all your workings