Question 3:

Poppy Traders owns the following assets on 31 December 2021: 1. Ford EcoSport CS 23 TM GP: Purchased on 30/6/2019 for R250 000. 2. Packaging machine: Purchased on 1/4/2020 for R300 000. Poppy Traders writes off depreciation as follows: Vehicles at 20% per annum using the diminishing balance method. Machinery at 25% per annum using the straight-line method.

Required:

3.1. Record the vehicle as it would appear in the asset register on 31 December 2021 using the template below:

3.2. Record the packaging machine as it would appear in the asset register at 31 December 2021 using the template below:

3.3. Prepare the depreciation ledger account for the period 30 June 2019 to December 2021.

			Deprecation
Date	Details	Fol	Amount		Date	Details	Fol	Amount