Question 3 Question 3Poppy Traders owns the following assets on 31 December 2021:1.Ford EcoSport- CS 23 TM GP: Purchased on 30/6/2019 for R250 000.2.Packaging machine: Purchased on 1/4/2020 for R300 000.Poppy Traders writes off depreciation as follows:Vehicles at 20% per annum using the diminishing balance method.Machinery at 25% per annum using the straight-line method.Required:Q.3.1Record the vehicle as it would appear in the asset register at 31 December 2021using the template below:ASSET REGISTERVEHICLE: FORD ECOSPORTDATECOSTDEPRECIATION ACCUMULATED CARRYINGDEPRECIATIONVALUE

Accumulated depreciation refers to an asset's depreciation up to a single point in its life. Because…

aders owns the following assets on 31 December 2021: rd EcoSport- CS 23 TM GP: Purchased on 30/6/2019 for R250 000. ckaging machine: Purchased on 1/4/2020 for R300 000. aders writes off depreciation as follows: hicles at 20% per annum using the diminishing balance method. achinery at 25% per annum using the straight-line method.

aders owns the following assets on 31 December 2021: rd EcoSport- CS 23 TM GP: Purchased on 30/6/2019 for R250 000. ckaging machine: Purchased on 1/4/2020 for R300 000. aders writes off depreciation as follows: hicles at 20% per annum using the diminishing balance method. achinery at 25% per annum using the straight-line method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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