SA Attorneys is a registered VAT vendor. The following information was recorded in the accounting records of SA Attorneys as at 28 February 2021 (the financial year-end):

R

Computer equipment at cost

180 000

Furniture at cost

105 200

Accumulated depreciation: Computer equipment (1 March 2020)

72 000

Accumulated depreciation: Furniture (1 March 2020)

29 193

The computer equipment is depreciated at 20% per annum, using the straight-line method. Furniture is depreciated at 15% per annum, using the reducing balance method. What will be the depreciation to be recorded on the computer equipment and on furniture on 28 February 2021?

NB:

1. Do not type the amount with any spaces as separators for thousands (eg: 12141,72)

2. Use a comma to indicate any decimals (eg: 1000,01)

3. You must enter cents even if it is 0 (eg ,00)

Solution:

Depreciation on computer equipment: R

Depreciation on furniture: R