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FAC3702 assignment 1 semester 1 2022
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Solution and calculations
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By: nondumisosithole9 • 2 year ago
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FAC3702 assignment 1 20220679411283
info@dimension30.co.za
www.dimension30.co.za
DR CR
a) Delivery vehicle 167 000
Motor vehicle 190 000
Accumulated depreciation:motor vehicle 33 226
Profit on disposal of motor vehicle 10 226
Calculations
Accumulated depreciation:motor vehicle
Cost 190 000
CA 31/03/2020 -156 774
33 226
Profit on disposal of motor vehicle
Fair value of vehicle given up 167 000
CA 31/03/2020 -156 774
10 226
b) Property, plant and equipment note Motor Delivery
Land Buildings vehicle vehicle
Carrying amount beginning 2 600 000 4 591 667 158 267 0
Cost 2 600 000 4 950 000 190 000 0
Accumulated depreciation - -358 333 -31 733 0
Additions at cost 0 0 0 167 000
Disposals at carrying amount -920 000 -1 082 917 -156 774 0
Cost -920 000 -1 150 000 -190 000 0
Accumulated depreciation - 67 083 33 226 0
Depreciation for the year - -150 083 -1 493 -11 600
Revaluation surplus 40 000 0 0 0
Impairment loss for the year - 0 0 0
Carrying amount end 1 720 000 3 358 667 0 155 400
Cost 1 720 000 3 800 000 0 167 000
Accumulated depreciation - -441 333 0 -11 600
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