»Activity 5.8 business ends on 30 June each year. Required July 2018 (exclude narrations). 2. Complete the following accounts in the General Ledger: Vehicles (5 lines) Accumulated depreciation on vehicles (5 lines) Asset disposal (4 lines) Profit or loss on sale of asset (2 lines). 3. Analyse the transaction on the accounting equation. Information The following balances appeared, amongst others, in the books or b00e on 30 June 2018, the last day of the previous financial year: Vehicles at cost R325 000 Accumulated depreciation on vehicles R157 000 n credit, Transaction: Dunt is e in the to J Johns, an employee, for R14 000 on credit.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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»Activity 5.8
a
business ends on 30 June each year.
Required
1. Show how the transaction below would appear in the General Journal
July 2018 (exclude narrations).
2. Complete the following accounts in the General Ledger:
Vehicles (5 lines)
Accumulated depreciation on vehicles (5 lines)
Asset disposal (4 lines)
Profit or loss on sale of asset (2 lines).
3. Analyse the transaction on the accounting equation.
Information
on 30 June 2018, the last day of the previous financial year:
Vehicles at cost
R325 000
Accumulated depreciation on vehicles
R157 000
old on credit,
Transaction:
account is
made in the
to J Johns, an employee, for R14 000 on credit.
Transcribed Image Text:»Activity 5.8 a business ends on 30 June each year. Required 1. Show how the transaction below would appear in the General Journal July 2018 (exclude narrations). 2. Complete the following accounts in the General Ledger: Vehicles (5 lines) Accumulated depreciation on vehicles (5 lines) Asset disposal (4 lines) Profit or loss on sale of asset (2 lines). 3. Analyse the transaction on the accounting equation. Information on 30 June 2018, the last day of the previous financial year: Vehicles at cost R325 000 Accumulated depreciation on vehicles R157 000 old on credit, Transaction: account is made in the to J Johns, an employee, for R14 000 on credit.
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