Question: Question 2 On 1 August 2020, a fire caused by an angry (previously dismissed) employee damaged three industrial ovens at the factory of Bunny Bakery

Question 2

On 1 August 2020, a fire caused by an angry (previously dismissed) employee damaged three industrial ovens at the factory of Bunny Bakery (Pty) Ltd, a business based in Mpumalanga. Bunny Bakery (Pty) Ltd is a resident of the Republic and a registered VAT Vendor. All amounts exclude VAT unless stated otherwise. The damaged ovens were sold to a company who repairs industrial ovens and resell them. Details of the damaged industrial ovens follow:

Oven 1 Oven 2 Oven 3 Originally acquired New New Used Date purchased and brought into use 1 Jan 2019 1 Apr 2019 1 Feb 2020 Original cost including VAT R86 250 R60 375 R25 875 Proceeds R3 750 R40 500 R22 500 Cost of replacement ovens Replacement Oven 1 (Oven R1) Replacement Oven 2 (Oven R2) Rep

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