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NAMC NMENT-2021 RADE 12 er 2021 ASSIGNMENT - 2021 021 (b) Making appropriate reference to...

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NAMC NMENT-2021 RADE 12 er 2021 ASSIGNMENT - 2021 021 (b) Making appropriate reference to the accounting concepts that you have used explain your treatment of additional information no. 4. (2) [12] 6. Gray Ray, a sole trader, commenced business on 1 January 2019. On that day she purchased the following motor vehicles on credit from Blue Motor Traders, for use in the business Vehicle 1 Delivery van N$10 000 Vehicle 2 Salesman's car N$15 000 The business's depreciation policy stated that depreciation is provided at 25% on a straight line basis on all motor vehicles owned at the year end. A full year's depreciation is charged in the year of purchase, but no depreciation is charged in the year of sale On 1 July 2021 Mary decided to sell her delivery van to another trader for N2 500. This amount was received in cash. Prepare the following accounts for the years ended 31 December 2019 to 31 December 2021. Balance the accounts, where appropriate, and bring down the balances on 1 January 2022 General Ledger of Gray Ray Motor Vehicles (a) Cr Fol Dr Date Details Amount Details Fol Amount Date NSSCO ACCOUNTING-Assignment 1-2021

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