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Course 17140
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27. A vehicle costs N$460,000 (incl. VAT). Transport N$11,500 (incl. VAT) and number plates N$1,150 (incl. VAT) were paid. The entity is VAT registered and uses the vehicle 100% for taxable supplies. What is the capitalised cost?
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26. A vehicle invoice is N$460,000 (VAT inclusive). What is the input VAT?
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25. A change in useful life of an asset should be treated as:
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24. An asset is sold for N$230,000 (excluding VAT). Carrying amount is N$200,000. What is the profit or loss on disposal?
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23. Which of the following should NOT be capitalised as part of the cost of PPE?
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22. A machine has a cost of N$400,000 and accumulated depreciation: N$150,000. What is the carrying amount?
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21. A machine is purchased for N$230,000 (inclusive of VAT). The machine is used 80% business and 20% private. What is the VAT claimable?
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20. An asset is sold for N$115,000 (inclusive of 15% VAT). What is the VAT output?
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2. Which of the following would NOT be included in the cost of a newly acquired piece of machinery?
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19. An asset has a cost of N$300,000, accumulated depreciation of N$180,000 and is sold for N$150,000. What is the profit or loss on disposal?
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