Question 2 On 1 January 2005, a manufacturer buys a manufacturing plant for R20 000...
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Question 2 On 1 January 2005, a manufacturer buys a manufacturing plant for R20 000 cash. On 1 July 2006, he buys an additional plant for R4 000 cash. On 31 December 2006, he sells a plant that he bought on 1 January 2005 for R3 000 for R1 600 cash. Financial Accounting 1/ ICG / Page 26 On 1 April 2007, he buys a plant for R2 800 cash. On 1 October 2008, he sells a plant that he bought on 1 July 2006 for R1 200 for R700 cash. He depreciates his plant on the straight-line basis on 31 December each year at the rate of 20% of the original cost. Required Machinery, depreciation provision, and asset disposal accounts for the years 2005 to 2009 [15]
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