Q.3.1 Calculate the profit or loss on the sale of the office computer (Office equipment) by (8) completing the asset disposal account in your answer book. Round all amounts to the nearest rand. Ignore VAT for this question. Q.3.2 Journalise all transactions relating to the sale of the office computer (Office equipment) in the general journal at 30 June 2017. Narrations are not required. gnore VAT for this question. Q.3.3 If Moore Retailers purchased a new computer for R32 775 (including VAT), what amount will be posted to the office equipment account in the general ledger to account for this purchase?
Question 3
30J une 2017 (the last day of the financial year Moore Retailers sold one of their office amDuters with an original cost price of R28 500. The computer was sold on credit to one of their am plovees for R7 500. Moore Retailers
Required:
Q.3.1 Calculate the profit or loss on the sale of the office computer (Office equipment) by (8) completing the asset disposal account in your answer book.
Round all amounts to the nearest rand.
Ignore VAT for this question.
Q.3.2 Journalise all transactions relating to the sale of the office computer (Office equipment) in the general journal at 30 June 2017.
Narrations are not required.
gnore VAT for this question.
Q.3.3 If Moore Retailers purchased a new computer for R32 775 (including VAT), what amount will be posted to the office equipment account in the general ledger to account for this purchase?
The term depreciation represents the deduction in the value of an asset due to its usage and time spent on it. Depreciation causes the book value of the assets to fall every year at a specific rate.
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