Homework Answers
(1)
OPTION A: Fixed installment
EXPLANATION:
As per this method, each year a fixed amount of depreciation is deducted from the asset’s value
(2)
OPTION B: R 2472
EXPLANATION:
principal = 2400
interest @ 12% for 3 months = 2400 x 12% x (3/12) = 72
therefore,
tony now owns AC traders 2400 + 72 = 2472
Add Answer to:
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e called the winema/mounts over its expected useful li method When the cost of an asset is written off each each year in equal the method of depreciation in use is called th fixed instalment diminishing balance sum of the digits unit of instalment 1.6 Was overdue for three months. AC Traders charger Traders 'y howowee Tony owed AC Traders R2 400. His acon interest at a rate of 12% per annum. Tony now owes ACTO R72 R2 472 R2...
a. Prepare the properly balanced/closed off bank account for May
2018 in the general ledger of Ayuri Dealers.
b. Prepare the bank reconciliation statement of Ayuri Dealers as
at 31 May 2018.
c. Prepare the trade payables control account, properly
balanced/closed off, for Ayuri Dealers for May 2018.
You are provided with the following information for Ayuri Dealers for May 2018 Total for the cash receipts journal after taking into account the differences Total for the cash payments joumal after...
All questions need to be answered please. From
questions 1 to question 5.
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