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You are provided with the following information for Jabu Stores for the year ended 31 October 20.7: Vehicles........ Accumulated depreciation: Vehicles.... Equipment...... Accumulated depreciation:
You are provided with the following information for Jabu Stores for the year ended 31 October 20.7: Vehicles........ Accumulated depreciation: Vehicles.... Equipment...... Accumulated depreciation: Equipment...... R 550 000 338 381 600 000 240 000 Additional information: Equipment X was purchased on 31 August 20.2 for R264 500 (including VAT) cash. A cash discount of 3% was given to Jabu Stores. Delivery costs were R1 800 and installation costs was R3 000. Equipment X was sold to Sammy Tech for R117 000 cash on 1 July 20.6. . Depreciation on vehicles is calculated at 25% using the fixed instalment method. Depreciation on equipment is calculated at 20% using the diminishing balance method. The financial year-end of Jabu Stores is 31 October. The correct general ledger entries in the books of Jabu Stores on 1 July 20.6 will be..
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