vehicles with a cost price of R72 800 and accumulated depreciation of R60 800 On 1 July 2018, the first day of the financial year, Boots Traders sold one of their »Activity 5.8 year of the Boots Traders is a business owned by F du Preez. The financial business ends on 30 June each year. Required 1. Show how the transaction below would appear in the General Journal for July 2018 (exclude narrations). 2. Complete the following accounts in the General Ledger: Vehicles (5 lines) Accumulated depreciation on vehicles (5 lines) Asset disposal (4 lines) Profit or loss on sale of asset (2 lines). 3. Analyse the transaction on the accounting equation. Information The following balances appeared, amongst others, in the books of Boots lhabe on 30 June 2018, the last day of the previous financial year: Vehicles at cost R325 000 Accumulated depreciation on vehicles R157 000 Transaction: dit, to J Johns, an employee, for R14 000 on credit.

vehicles with a cost price of R72 800 and accumulated depreciation of R60 800 On 1 July 2018, the first day of the financial year, Boots Traders sold one of their »Activity 5.8 year of the Boots Traders is a business owned by F du Preez. The financial business ends on 30 June each year. Required 1. Show how the transaction below would appear in the General Journal for July 2018 (exclude narrations). 2. Complete the following accounts in the General Ledger: Vehicles (5 lines) Accumulated depreciation on vehicles (5 lines) Asset disposal (4 lines) Profit or loss on sale of asset (2 lines). 3. Analyse the transaction on the accounting equation. Information The following balances appeared, amongst others, in the books of Boots lhabe on 30 June 2018, the last day of the previous financial year: Vehicles at cost R325 000 Accumulated depreciation on vehicles R157 000 Transaction: dit, to J Johns, an employee, for R14 000 on credit.

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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