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This is an activity in my workbook and is not for marks. The second picture is the layout of the answer. I need help with
This is an activity in my workbook and is not for marks.
The second picture is the layout of the answer. I need help with how to write the answer in the layout that's in my textbook.
Question: Journalise ALL the above transactions for the year ended 28 February 2021 in the General Journal including the year-end adjustment entries for depreciation. Round off to the nearest Rand Narrations are not required
The following balances appeared in the books of Santiago Traders on 1 March 2020: Land and Buildings 900 000 Vehicles 250 000 Machinery 200 000 Accumulated Depreciation on Vehicles ? Accumulated Depreciation on Machinery ? Additional information: A new building was purchased for cash on the 1st September 2020 for R1 000 000. The vehicles balance at 1 March 2020 consists of two vehicles. Vehicle A with a cost price of R120 000 was sold on the 31st October 2020 on credit to Miss Smith for R60 000. The vehicle was purchased on the 31 May 2018. Vehicle B was purchased on the 1 March 2019. Purchased a new delivery vehicle (Vehicle C) for R345 000 on credit from N&N Motors on 1 December 2020 All machinery was purchased on the 30 April 2017 The depreciation policy on non-current assets are as follows: Vehicles: 20% on cost using the straight-line method and no residual value Machinery: 10% per annum using the diminishing balance method and no residual o O value IGNORE VAT . Santiago Traders has a 28 February year end Journalise ALL the above transactions for the year ended 28 February 2021 in the General Journal including the year-end adjustment entries for depreciation. Round off to the nearest Rand Narrations are not required | DATE DETAILS FOL DEBIT CREDIT
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