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What will the carrying value on the laptop be

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Reference no: EM133185001

Question - 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 periodic inventory system is applied

2. Vehicles is depreciated over 5 years using the straight-line method

3. Computer equipment is depreciated at 15% per annum using the reducing balance method

4. Furniture is depreciated at 5% per annum using the reducing balance method

On 1 June 2020, Samoosse Traders purchased a new laptop for office use to the amount of R15 600 (VAT exclusive).

Required - What will the carrying value on the laptop be for the financial year ending on 28 February 2022?

a. R11,768,25

b. R9,800,87

c. R10,233,26

d. R11,271,00

Reference no: EM133185001

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