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Fac1601 Assignment 1 Answers, Semester 1, 2020

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Institution FAC 1601
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PROPERTY, PLANT AND EQUIPMENT NOTE Land Buildings Vehicles Office Equipment Carrying amount on 1 Jan 2019 Cost/Valuation - - 165,000 72,200 Accumulated depreciation - - (30,800) (44,400) Additions at cost 600,000 1,600,000 101,000 43,000 Disposal at carrying amount Depreciation for the year (24,000) (49,833) (15,200) Carrying amount on 31 Dec 2019 600,000 1,576,000 185,367 52,411 Cost/Valuation 600,000 1,600,000 266,000 110,000 Accumulated depreciation - (24,000) (80,633) (57,589) 3. 4 R Total comprehensive income for the year 945,000 Interest on capitals: 9%*(80000+95000) (15,750) Salaries: (2*14000*12months) (336,000) Interest on drawings (3210+5460) 8,670 Commission (61,374) Share of profits 540,546 Downloaded by: ngejanan | Distribution of this document is illegal This study source was downloaded by from CourseH on :14:13 GMT -05:00

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  • property
  • 000 72
  • plant and equipment note land buildings vehicles office equipment carrying amount on 1 jan 2019 costvaluation 165
  • 200 accumulated depreciation 30
  • 800 44
  • 400 addit

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