#accounting

Accounting

Account management

Accounting

Samoosse Traders (registered for VAT) is a newly founded business trading in safety products and equipment. The accounting policies of Samoosse Traders is as follows: 1.       The perpetual inventory system is applied 2.       Vehicles is depreciated over 6 years using the reducing balance method 3.       Furniture is depreciated at 10% per annum using the straight-line method On 1 August 2020, Samoosse Traders purchased new office furniture to the amount of R17 250 (VAT inclusive at 15%). What will the carrying value on the new furniture be for the financial year ending on 28 February 2022?

Farm management

Farm management

Under farm management

Under farm management