Question 1 1.1 Siyanda is the owner of Bunga Limited. Bunga Limited purchased a delivery vehicle on 01 June 2017 for an amount of R292 000. Bunga Limited was entitled to a S11 (e) allowance of 20% on the delivery vehicle. The delivery vehicle was sold on 30 November 2021 for an amount of R270 000. Use the above information to calculate both the tax value and the recoupment for the year ended 28 February 2022

Question 1 1.1 Siyanda is the owner of Bunga Limited. Bunga Limited purchased a delivery vehicle on 01 June 2017 for an amount of R292 000. Bunga Limited was entitled to a S11 (e) allowance of 20% on the delivery vehicle. The delivery vehicle was sold on 30 November 2021 for an amount of R270 000. Use the above information to calculate both the tax value and the recoupment for the year ended 28 February 2022

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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