1.3 REQUIRED Use the information provided below to answer the following questions: 1.3.1 Prepare the Asset Disposal account in the general ledger of Powerade Stores. The account must be closed off. 1.3.2 Calculate the deprecation for financial year ended 28 February 2022 on the vehicle that was sold. 1.3.3 Calculate the deprecation for the financial year ended 28 February 2023 on the vehicle that was purchased on 01 September 2022. 1. 2. (6 marks) INFORMATION On 01 March 2022 the following balances, amongst others, appeared in the books of Powerade Stores: Vehicles (at cost) 3. (2 marks) (2 marks) R660 000 R440 000 Accumulated depreciation on vehicles On 01 March 2022 a vehicle (which was estimated to have a useful life of six years) that originally cost R240 000 was sold on credit for R90 000. The accumulated depreciation on this vehicle amounted to R160 000 on 01 March 2022. Depreciation is calculated on vehicles using the straight-line method. The financial year ended on 28 February 2023. On 01 September 2022 a new vehicle (with a useful life of six years) was purchased for R300 000 cash.