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You are given the following extract of the pre- adjustment trial balance for Arch Traders for the financial year ended 30 September 20.2. ARCH
You are given the following extract of the pre- adjustment trial balance for Arch Traders for the financial year ended 30 September 20.2. ARCH TRADERS EXTRACT OF THE PRE-ADJUSTMENT TRIAL BALANCE AS AT 30 SEPTEMBER 20.2 Debit Credit R R 525 000 Capital Drawings.. Buildings. 25 000 150 000 Land 450 000 Vehicles... 500 000 Equipment... 280 000 Accumulated depreciation: Vehicles(1 October 20.1... 90 000 Accumulated depreciation: Equipment (1 October 20.1)... 60 000 Trade receivables control... 225 000 Inventory... 250 000 Bank overdraft. 714 750 300 000 Trade payables control.. Additional information a. On 1 October 20.1 Arch Traders bought a new vehicle to the value of R280 000. b. On 30 June 20.2 one of the two old vehicles bought on 1 October 20.0 were sold for R100 000. The vehicle was bought at a cost price of R250 000. c. Depreciation for the year must be provided as follows: Equipment: on the straight-line method Vehicles: 10% per annum 20% per annum on the diminishing balance method The correct property, plant and equipment note for vehicles (total column excluded) for Arch Traders on 30 September 20.2 will be:
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