Answer to Question #137483 in Accounting for Thabisile

Question

On 31 August 2018, Musk Traders purchased a machine on credit for a cost price of R402 500
(including VAT at 15%). Machinery is depreciated over six years according to the straight‐line basis
and there is no residual value on this machine, as it is highly specialised. Musk Traders has a
30 June year‐end.
Required:
Calculate the depreciation and accumulated depreciation for 2019 and 2020.
Round to the nearest Rand. Show all your workings

Answer 1

Dear Thabisile, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order