Question
On the 1st of January 2020, the beginning of the financial year, SPEEDY COURIERS opened its business and the owner Ms C. Speedy purchased four
On the 1st of January 2020, the beginning of the financial year, SPEEDY COURIERS opened its business and the owner Ms C. Speedy purchased four Volkswagen Caddy Vans (vehicles) with a cost price of R500 000 each. The accumulated depreciation on the four Volkswagen Caddy Vans amounted to R800 000 on 1 January 2022. Depreciation on all vehicles are calculated at 20% per annum using the straight-line method. On the 1st of October 2022 one of the Volkswagen Caddy Vans YOU ARE REQUIRED TO: Disclose the following accounts in the general ledger (answer sheet provided) of SPEEDY COURIERS for the financial period ending 31 December 2022 in order to answer the multiple-choice questions on eFundi. Vehicles Accumulated depreciation: Vehicles Depreciation Realisation account Profit or loss on sale of asset account Bank
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