Question 7

MIYOLA TRADERS Notes to the financial statements for the financial year ended 30 June 2020

Property, plant, equipment

Land and buildings R 292 500 450 000 (157 500) (22 500) Carrying amount Beginning of year Cost Accumulated depreciation Additions Depreciation Disposals Cost Accumulated depreciation Carrying amount: End of year Cost Accumulated depreciation ? ? ? Additional information Buildings are depreciated at 5% per annum on the straight-line method. What will the carrying amount for land and buildings of Miyola Traders for the year ended 30 June 2020 be? A. R292 000 OB. R427 500 C. R157 500 D. R450 000 E. R270 000