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Question 1 (Marics: 30) The following balances appeared in the books of Usbon Dealers on the 1March2020 : Additional Information: - A new building was
Question 1 (Marics: 30) The following balances appeared in the books of Usbon Dealers on the 1March2020 : Additional Information: - A new building was purchased on 1 September 2020 for R1 000000. - Vehicle A with a cost price of R200 000 was sold on 31 November 2020 on credit to Mr Long for R140 000. Vehicle A was purchased on 1 March 2019. - A new dellvery vehicle (Vehicle B) was purchased for R345 000 on credit from Stya Motors on 1 December 2020. - All machinery was purchased on the 30 April 2017. - Computer equipment was purchased on the 30 September 2020 for R30000. - The depreciation policy on non-current assets are as follows: - Vehicles: 20% on cost using the straight-line method - Machinery: All machinery is written off at 10% per annum using the diminishing balance method - Equipment: Equipment is written off at 10% per annum using the diminishing balance method IGNORE VAT. Required: Q.1.2 Provide the note to Property, Plant and Equipment for the year-ended 28 February (30) 2021. The total column is not required. Round to the nearest rand. Show all workings
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