Question 18 of 20 At 30 June 2020, the financial year-end of Phutaditjhaba Traders, the annual depreciation adjustment still had to be done. The2.0 Points balance of the Equipment (at cost price) account at 30 June 2019 was R80 000 and the balance of the Accumulated depreciation: Equipment account at 30 June 2019 was R28 800. The balance of the Vehicles (at cost price) account at 30 June 2019 was R100 000 and the balance of the Accumulated depreciation: Vehicles account at 30 June 2019 was R50 000. Phutaditjhaba Traders uses the reducing-balance method to depreciate equipment at 20% per year and the straight-line method to depreciate vehicles at 25% per year. No equipment or vehicles were purchased or sold during the financial year ending 30 June 2020. Which one of the options below reflects the total annual depreciation amount for the equipment and vehicles in the accounting records of Phutaditjhaba Traders for the year ended 30 June 2020? A. R35 240 B. R22 740 C. R28 500 D. R41 000
Question 18 of 20 At 30 June 2020, the financial year-end of Phutaditjhaba Traders, the annual depreciation adjustment still had to be done. The2.0 Points balance of the Equipment (at cost price) account at 30 June 2019 was R80 000 and the balance of the Accumulated depreciation: Equipment account at 30 June 2019 was R28 800. The balance of the Vehicles (at cost price) account at 30 June 2019 was R100 000 and the balance of the Accumulated depreciation: Vehicles account at 30 June 2019 was R50 000. Phutaditjhaba Traders uses the reducing-balance method to depreciate equipment at 20% per year and the straight-line method to depreciate vehicles at 25% per year. No equipment or vehicles were purchased or sold during the financial year ending 30 June 2020. Which one of the options below reflects the total annual depreciation amount for the equipment and vehicles in the accounting records of Phutaditjhaba Traders for the year ended 30 June 2020? A. R35 240 B. R22 740 C. R28 500 D. R41 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education