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Business, 23.02.2021 22:10 deboahsouthall

Information The following balances appeared among others in general ledger of Wayne brothers on 1 March 2015 on the first day of the financial year:Vehicle R72 500.
Accumulated depreciation on vehicle R12 125

Transaction:
On 31 December 2015 ,a vehicle with a cost price of R55 000 was purchased from Range Motors on credit.

Adjustment:
On 29 February 2016,depreciation must be calculated at 15% p. a on the cost price of vehicle.​

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