Activity 5.20Requiredlike the following information to complete the Note for Fixed Assetson the following page) in the financial statements of Gamma Stores on28 February 2018, the last day of the financial year.InformationBalances, among others, on 1 March 2017:R240 000VehiclesR135 000Accumulated depreciation on vehiclesTransactions:2017The owner took over an old vehicle for his own use at carrying value.This vehicle had originally been purchased for R80 000 and theaccumulated depreciation on 28 February 2017 amounted to01 MarR33 920.30 AprPurchased a new vehicle for R120 000 from Modern Cars Ltd.Paid a deposit of 15%. The balance is to be paid off over a period of24 months.201828 FebDepreciation on vehicles amounted to R14 180.FIXED ASSETS .CHAPTER 5

Name: Activity 5.20Requiredlike the following information to complete the N
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Description: Activity 5.20Requiredlike the following information to complete the Note for Fixed Assetson the following page) in the financial statements of Gamma Stores on28 February 2018, the last day of the financial year.InformationBalances, among others, on

Fixed Assets Fixed assets or the non current assets is one of the important part in the balance…

Business

Accounting

»Activity 5.20 equired se the following information to comp n the following page) in the financial February 2018, the last day of the fin Formation lances, among others, on 1 March 2017: hicles cumulated depreciation on vehicles nsactions: 17 Mar The owner took over an old vehic This vehicle had originally beenp accumulated depreciation on 28 F R33 920. pr Purchased a new vehicle for R120 Paid a deposit of 15%. The balance 24 months. eb Depreciation on vehicles amounte

»Activity 5.20 equired se the following information to comp n the following page) in the financial February 2018, the last day of the fin Formation lances, among others, on 1 March 2017: hicles cumulated depreciation on vehicles nsactions: 17 Mar The owner took over an old vehic This vehicle had originally beenp accumulated depreciation on 28 F R33 920. pr Purchased a new vehicle for R120 Paid a deposit of 15%. The balance 24 months. eb Depreciation on vehicles amounte

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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