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. Date Current depreciation Hogwarts Traders: Asset Register Hogwarts Traders: Vehicle 1 Date 1 May 2015 Purchased: Make and Toyota Hilux reg.: 2014 (FG765GP) Purchased Benji's Car Sales from: (Credit) Cost Price: 320 000.00 Accumulated depreciation 21 333.33 31 Dec 21 333.33 2015 31 Dec 29 866.67 51 200.00 2016 31 Dec 26 880.00 78 080.00 2017 31 Dec 24 192.00 102 272.00 Rate of Depreciation: 10% according to reducing balance 2018 method. V. Limited Sold to: 31 Dec ? ? 2019 Type of Sale: Cash Date sold: 1 July 2019 Selling Price: 250 000.00 Date Current Accumulated depreciation depreciation ? 31 Dec ? 2019 Hogwarts Traders: Vehicle 2 Date 1 August 2019 Purchased Make and Hyundai Atos reg.: 2019 (ZV109GP) Purchased Hyundai from: Auto(Cash) Cost Price: R150 000 Rate of 15% according Depreciation: 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 (34) Accumulated depreciation: Vehicles (9%) Depreciation (2) Asset Disposal (4) Profit/Loss on sale of vehicles. (1) Show all your workings. 20 2020 Depreciation N23 (2) Date Details Fol. Amount Date Details Fol. Amount 20 Workings