The balance in the vehicles account in the ledger of Smeg Limited was R1 250 000 on 01 January 2023. A vehicle, with a cost price of R375 000 and accumulated depreciation of R300 000, is planned to be sold for R62 500 on 30 June 2023. A new vehicle with a cost price of R625 000 will be purchased to replace it on the same day. The total depreciation on vehicles for 2023 is estimated to be R312 500. What will be the carrying value of the vehicles in the pro forma statement of financial position as at 31 December 2023? OA. R1 500 000 OB. R1 550 000 OC. R1 187 500 OD. R1 487 500 Previous page

The balance in the vehicles account in the ledger of Smeg Limited was R1 250 000 on 01 January 2023. A vehicle, with a cost price of R375 000 and accumulated depreciation of R300 000, is planned to be sold for R62 500 on 30 June 2023. A new vehicle with a cost price of R625 000 will be purchased to replace it on the same day. The total depreciation on vehicles for 2023 is estimated to be R312 500. What will be the carrying value of the vehicles in the pro forma statement of financial position as at 31 December 2023? OA. R1 500 000 OB. R1 550 000 OC. R1 187 500 OD. R1 487 500 Previous page

Name: Ll.89. The balance in the vehicles account in the ledger of Smeg Limit
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Description: Ll.89. The balance in the vehicles account in the ledger of Smeg Limited was R1 250 000 on 01 January 2023. A vehicle, with a costprice of R375 000 and accumulated depreciation of R300 000, is planned to be sold for R62 500 on 30 June 2023. A new veh

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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