20 2020 Question 1 (Marks: 20) The following information was taken from the fixed assets register of Hogwarts Traders. The vehicles indicated below are the only vehicles owned by the sole trader. The company has a 31 December year end. Hogwarts Traders: Asset Register Hogwarts Traders: Vehicle 1 Date 1 May 2015 Date Current Accumulated Purchased: depreciation depreciation 21 333.33 21 333.33 Make and 31 Dec reg.: 2015 Toyota Hilux 2014 (FG765GP) Benji's Car Sales (Credit) Purchased 31 Dec 29 866.67 51 200.00 from: 2016 Cost Price: 320 000.00 31 Dec 26 880.00 78 080.00 2017 Rate of 31 Dec 24 192.00 102 272.00 Depreciation: 10% according to reducing balance 2018 method. Sold to: V. Limited 31 Dec ? ? 2019 Type of Sale: Cash Date sold: 1 July 2019 Selling Price: 250 000.00 20 2020 Hogwarts Traders: Vehicle 2 Date 1 August 2019 Purchased: Date Current Accumulated depreciation depreciation Make and Hyundai Atos 31 Dec ? 2 2019 reg.: Purchased 2019 (ZV109GP) Hyundai Auto(Cash) from: Cost Price: R150 000 Rate of Depreciation: 15% according to straight line method. Sold to: Type of Sale: Date sold: Selling Price: Required: Prepare the following accounts in the general ledger of Hogwarts Traders for the financial year ended 31 December 2019 ONLY. Start with the opening balances. Balance the accounts at the end of the month. Ignore VAT Vehicles (3) Accumulated depreciation: Vehicles (94) Depreciation (2) Asset Disposal (4) Profit/Loss on sale of vehicles. (1) Show all your workings. Profit on disposal of Vehicles N29 (1) Date Details Fol. Amount Date Details Fol. Amount amount 2020 Asset Disposal N27 Date Details Fol. Amount Date Details Fol. Amount Amount 2020 20 Workings: ndent Institute of Education Pty) Ltd 2020