Hatfield Manufactuers, a registered VAT vendor, bought machinery for R586 500 (including VAT) on 1 October...

 

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Hatfield Manufactuers, a registered VAT vendor, bought machinery for R586 500 (including VAT) on 1 October 2021. Machinery is depreciated at 15% per year according to the reducing balance method. The financial year end of Hatfield Manufacturers is 30 April each year. Vat of 15% applies to all transactions. Required: Calculate the cost price, depreciation, accumulated depreciation, and carrying (10) value of the new machinery for each of the following financial year ends: 30 April 2022 30 April 2023 Complete the table provided in your answer book. Round answers to the nearest rand where applicable. O O Year ending 30 April 2022 Year ending 30 April 2023 Cost price A E Depreciation Accumulated Depreciation B F G Carrying value at the end of the year D H Hatfield Manufactuers, a registered VAT vendor, bought machinery for R586 500 (including VAT) on 1 October 2021. Machinery is depreciated at 15% per year according to the reducing balance method. The financial year end of Hatfield Manufacturers is 30 April each year. Vat of 15% applies to all transactions. Required: Calculate the cost price, depreciation, accumulated depreciation, and carrying (10) value of the new machinery for each of the following financial year ends: 30 April 2022 30 April 2023 Complete the table provided in your answer book. Round answers to the nearest rand where applicable. O O Year ending 30 April 2022 Year ending 30 April 2023 Cost price A E Depreciation Accumulated Depreciation B F G Carrying value at the end of the year D H

Answer rating: 100% (QA)

Cost Price R586500 Calculation for the year ending 30 April 2... View the full answer