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You are given the following extract of the preadjustment trial balance for Arch Traders for the financial year ended 30 September 20.2. ARCH TRADERS EXTRACT
You are given the following extract of the preadjustment 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 Additional information a. On 1 July 20.2 Arch Traders bought new equipment to the value of R80000. b. On 30 June 20.2 old equipment with a cost price of R85000, bought on 1 October 20.0 , were sold for R55 000 cash. c. Depreciation for the year must be provided as follows: - Equipment: 10\% per annum on the straight-line method - Vehicles: 20% per annum on the diminishing balance method Use the information as extracted from the accounting records of Arch Traders to complete the asset realisation account to calculate the profit/loss on the sale of the old equipment that will be disclosed in the statement of profit or loss and other comprehensive income. The amount will be: accounting records of Arch Traders to complete the asset realisation account to calculate the profit/loss on the sale of the old equipment that will be disclosed in the statement of profit or loss and other comprehensive income. The amount will be: Instructions: Drag the correct answer into the correct space. An option can be used more than once. Please keep the sequence of transactions strictly according the information given but also in the correct format
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