Balances at the end of financial year 28 February 2022 Equipment R24 000 Accumulated Depreciation R18 000. Adjustment: Depreciation is calculated at 30% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2021. The equipment originally costed R5 000. The Accumulated depreciation for previous years is R1 500. The profit/loss for the disposed equipment is: OA. Profit/loss R1 050 O B. Profit/loss R525 OC. Profit/loss R712.50 O D. Profit/loss R787,50

Balances at the end of financial year 28 February 2022 Equipment R24 000 Accumulated Depreciation R18 000. Adjustment: Depreciation is calculated at 30% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2021. The equipment originally costed R5 000. The Accumulated depreciation for previous years is R1 500. The profit/loss for the disposed equipment is: OA. Profit/loss R1 050 O B. Profit/loss R525 OC. Profit/loss R712.50 O D. Profit/loss R787,50

Name: Balances at the end of financial year 28 February 2022Equipment R24 0
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Description: Balances at the end of financial year 28 February 2022Equipment R24 000Accumulated Depreciation R18 000.Adjustment:Depreciation is calculated at 30% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2021. The

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 3RE: Albany Corporation purchased equipment at the beginning of Year 1 for 75,000. The asset does not...

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