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[10 marks] Alison Swift owns a transportation business. In relation to her Motor vehicles she provides you with the following information: Alison owns a fleet
[10 marks] Alison Swift owns a transportation business. In relation to her Motor vehicles she provides you with the following information: Alison owns a fleet of Lorries acquired for 280,000 and written down to 180,000 by 31st December 2018. Alison depreciates vehicles at 10% per annum using the straight line method. On 1st March 2019 Alison acquired another vehicle for 46,800. On 1st October 2019 Alison acquired another vehicle for 44,000 and paid for it with a short term loan that she set up earlier in the year. Using the above information, complete the T-accounts for these transactions as at 31st December 2019. Debit Corresponding account Motor Vehicles at cost Credit Corresponding account > ... Debit Corresponding account Accumulated Depreciation Credit Corresponding account > > > V
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