Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PRE-ADJUSTMENT TRIAL BALANCE - 31 DECEMBER 2022. Vehicles at cost R400 000 Equipment at cost R200 000 Accumulated depreciation: Vehicles (1/1/22) R160 000 Accumulated depreciation:

PRE-ADJUSTMENT TRIAL BALANCE - 31 DECEMBER 2022.
Vehicles at cost R400 000
Equipment at cost R200 000
Accumulated depreciation: Vehicles (1/1/22) R160 000 Accumulated depreciation: Equipment (1/1/22) R 80 000
ADJUSTMENTS: Depreciation is to be provided as follows:
- on vehicles at 10% p.a. on the diminishing balance method. - on equipment at 20% p.a. on cost.
To Prepare an adjustment entry and General Ledger.
image text in transcribed
PRE-ADJUSTMENT TRIAL BALANCE - 31 DECEMBER 2022. Vehicles at cost R400 000 Equipment at cost R200 000 Accumulated depreciation: Vehicles (1/1/22) R160 000 Accumulated depreciation: Equipment (1/1/22) R 80000 ADJUSTMENTS: Depreciation is to be provided as follows: - on vehicles at 10% p.a. on the diminishing balance method. - on equipment at 20% p.a. on cost. To Prepare an adjustment entry and General Ledger

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions