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Accounting Paper 1, November 2024, question 1.1.2

Accounting P1 · Fixed assets and disposal
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Company: Marula Traders Ltd. Financial year ended 31 August 2024. Fixed assets information: Cost price of vehicles on 1 September 2023: R1 480 000 A vehicle that cost R360 000 was sold during the year. A new vehicle costing R450 000 was bought during the year.
1.1.24 marks
Calculate the cost price of vehicles on 31 August 2024.

NSCBased on Nov 2024 · Paper 1 · Q1.1.2

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What examiners found

The trade-in value was used in the vehicle’s cost price instead of its original cost.

In our words. Source: Department of Basic Education, NSC 2024 Diagnostic Report, Part 1 (Book 1), Q1.1.2.

Updated