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Accounting Paper 1, November 2024, question 1.1.1

Accounting P1 · Fixed assets and disposal
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Marimba Traders Ltd, financial year ended 28 February 2025. Fixed assets note, equipment: Cost price at the end of the year: R 561 000 Accumulated depreciation at the beginning of the year (1 March 2024): R 238 400 Accumulated depreciation at the end of the year (28 February 2025): R 349 100 No equipment was sold during the year.
1.1.12 marks
Calculate the depreciation on equipment for the year ended 28 February 2025, using the fixed asset information provided.

NSCBased on Nov 2024 · Paper 1 · Q1.1.1

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What examiners found

Candidates used the wrong depreciation period, and applied a depreciation rate to equipment that had none.

In our words. Source: Department of Basic Education, NSC 2024 Diagnostic Report, Part 1 (Book 1), Q1.1.1.

Updated