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 00.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. Q.3.2Record the packaging machine as it would appear in the asset register at 31December 2021 using the template below:ASSET REGISTERMACHINE: PACKAGING MACHINEDATECOSTDEPRECIATION ACCUMULATED CARRYINGDEPRECIATIONVALUE

Depreciation expense: Depreciation expense is the reduction in a particular asset due to its use or…

Answered: Q.3.2 Record the packaging machine as…

Q.3.2 Record the packaging machine as it would appear in the asset register at 31 December 2021 using the template below:

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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Question

Q.3.2
Record the packaging machine as it would appear in the asset register at 31
December 2021 using the template below:
ASSET REGISTER
MACHINE: PACKAGING MACHINE
DATE
COST
DEPRECIATION ACCUMULATED CARRYING
DEPRECIATION
VALUE

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