Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION1 25 MARKS Unam acquired the following assets. Financial Year: 31 December 2016. 1. Motor vehicle NS 100 000 acquired on 30 June 2012 Custom

image text in transcribed
image text in transcribed
QUESTION1 25 MARKS Unam acquired the following assets. Financial Year: 31 December 2016. 1. Motor vehicle NS 100 000 acquired on 30 June 2012 Custom clearance cost NS 8 500 Transport cost from Walvis Bay to Windhoek NS 10 000 Vehicle registration cost NS 1 500 Depreciation: 4 years' straight line Scrap value NS 2 000 2. Furniture and Fittings NS 150 000 acquired on 01 January 2012 Depreciation: 20% diminishing balance NS 49 152 residual value a) Calculate depreciation each year for both assets? Show each year depreciation expense and accumulated depreciation

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

Recommended Textbook for

Market Contact Audit

Authors: Gerardus Blokdyk

2nd Edition

0655179771, 978-0655179771

More Books

Students also viewed these Accounting questions

Question

What is meant by elasticity pessimism? How did it arise?

Answered: 1 week ago