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QUESTION 1 The following information relates to Tabita Ltd. The financial year ended on 28 February 2023. REQUIRED: 1.1 Refer to Information B. (60
QUESTION 1 The following information relates to Tabita Ltd. The financial year ended on 28 February 2023. REQUIRED: 1.1 Refer to Information B. (60 Marks) Calculate the missing amounts denoted by (a) to (e) (22 Marks) B: Non-current Assets Land Vehicles Equipment Total Cost 350,000.00 460,000.00 Accumulated depreciation (315,000.00) Canying value (01/03/2022) (a) 35,000.00 Movements Additions 325,000.00 422.550.00 Disposal Depreciation (d) (b) (13,766.00) (c) 50.994.00 772,550.00 340,000.00 Carrying valve (28/02/2023) 2.550.000.00 Cost Accumulated depreciation Depreciation on vehicles is calculated at 20% pa on cost The company has two vehicles on 28 February 2023. One of these vehicles was purchased on 1 September 2022 Extract from the Fixed Assets Register in respect of equipment sold: Fridge (Model X3) Date purchased: 1 March 2020 Date sold: 31 December 2022 Sold for: R81 250 Depreciation rate: 10% pa. (diminishing-balance method) B
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