Question 15 of 20 Designer Traders obtained an unsecured loan for an amount of R201 700 at the beginning of the current financial year from ATM Bank at an interest rate of 16% per annum. 50% of the loan was repaid on 1 March 2019 and the remainder needs to be repaid on 1 March 2020. The interest is not capitalised but paid to the bank on the day loan is repaid. Designer Traders' current financial period ends on 31 May 2019 and according to the extract from pre-adjustment trial balance as at 31 May 2019, interest on loan amounted to R24 204. Which one of the following represents the correct amount amount for interest payable to be disclosed in the statement of financial position of Designers Traders as at 31 May 2019? . A. R4 034 B. R5 378 C. R28 238 D. R26 893 E. R8 068 Reset Selection Question 16 of 20 Extract of the post adjustment trial balance of THC Traders as at 30 September 20.20 Debit Credit R R Plant and machinery (cost) 120 000 Accumulated depreciation: plant and machinery 41 750 Equipment (cost) 90 000 Accumulated depreciation equipment 17 100 Land and buildings (cost) 180 000 Fixed deposit (@7.5% p.a.) 100 000 Depreciation 38 357 Loss on sale of equipment 1 500 Interest on fixed deposit 7500 How will the property, plant and equipment be disclosed in the statement of financial position of THC Traders as at 30 September 20.207 A. THC TRADERS R STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20.20 (extract) ASSETS Note Non-current assets Property, plant and equipment 151 150 . B. THC TRADERS R STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20.20 (extract) ASSETS Note Non-current assets Property, plant and equipment 390 000 C. THC TRADERS R STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20.20 (extract) ASSETS Note Non-current assets Property, plant and equipment 292 783 D. THC TRADERS R STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20.20 (extract) ASSETS Note Non-current assets Property, plant and equipment 431 150 E. THC TRADERS R STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 20.20 (extract) ASSETS Noto Non-current assets Property, plant and equipment 331 150 https://myexam unic porta FAC1500-20-EXIVADA veces Question 17 of 20 The following information was extracted from the accounting records of Kumkani Traders: Balances at 1 November 20.9 R Equipment: Cost 280 000 Accumulated depreciation: Equipment...... (164 800) Additional information (a) At the beginning of the financial year, 1 November 20.9, Kumkani Traders decided to upgrade some of its processes by selling old printing equipment for R31 000 cash. The machine was bought on 1 November 20.4 for R180 000. Depreciation was provided for at 15% p.a. on the straight-line method. (b) On 1 December 20.9 Kumkani Traders bought 3D printing equipment for R145 600 on credit from Fourth Dimension. Depreciation on the new machine must be provided for at 25% per annum on the diminishing balance method. Which one of the following alternatives represents the current amount to be disclosed as depreciation on the 3D printing equipment for the year ended 31 October 20.10? (The amounts must be rounded off to the nearest Rand). . A. Depreciation amount will be R 30 333. . B. Depreciation amount will be R 36 400. . C. Depreciation amount will be R133 467. . D. Depreciation amount will be R 33 367. E. Depreciation amount will be R 48 367. Reset Selection Question 18 of 20 3 Imm1
