Record the transactions in the correct subsidiary Journals on 31 December 2011 Po te toowing accounts in the General Ledger 21 Accumolated Depreciation on Equipment Asset inspecal Degracias 25 Prof (Loss) on sale of Assels Balance iClose of the accounts on 31 December 20.1) show the note to the financial statement for Tangible Fixed assets BRFORMATION Balances on January 20.4. Eugen R34 600 Accumulated Depreciation on equipment R16 600 2 Sold as old machine on 31 December 20.1 (cost price R18 000; accumulated depreciation R 8300 on 1 January 20.1) on credit to D. Art for R 12 000. 8. Depreciation is provided at 10% p.a. on the diminishing balance method
