60 QUESTION ONE: ASSET DISPOSAL (20 MARKS) The information provided was extracted from the financial records of Caribbean Traders. Their financial year ends on the 28 February 2022. INFORMATION A. INCOMPLETE FIXED ASSET NOTE Equipment Cost 900 000 Accumulated depreciation (370 000) Carrying value Movements Additions 120 000 Disposals Depreciation Carrying value Cost 930 000 Accumulated depreciation B. Fixed Assets Equipment A printer bought on 1 June 2018 for R90 000, was sold for cash on 31 August 2021 at carrying value. A new printer was bought for R120 000 on 1 September 2022. Depreciation on equipment is written off at 20% per annum on the diminishing balance method. REQUIRED 1.1 Calculate the accumulated depreciation and carrying value for the disposal of the printer. (8 marks) 1.2 Calculate the depreciation on equipment on the 28 February 2022. (7 marks) 1.3 Prepare the following ledger account: (5 marks) Asset disposal on the printer