Additional Information

The company's policy is to depreciate Motor vehicles at a rate of 20% per annum on cost.

You are required to prepare:

i) The Motor vehicles account (2016-2019)

ii) Provision for depreciation account (2016-2019)

iii) Disposal account for 2018

iv) Statement of profit or loss extract for 2018 and 2019

v) Statement of financial position extract for 2018 and 2019

B ABC Ltd started business on 1/1/14, and its financial year ends on 31" December each year. The following information was extracted from the company's asset register. DATE TRANSACTION AMOUNT (GHS) 2016 January, 1 Purchased one motor van 58,500 2016 September, 1 Purchased two motor vans 78,000 each 2018 March, 1 Purchased one motor van 45,200 2018 May, 2 Sold the motor van purchased | 18,240 in January 2016 2019 April 1 Purchased three motor vans 62,000 each Additional Information The company's policy is to depreciate Motor vehicles at a rate of 20% per annum on cost. You are required to prepare: The Motor vehicles account (2016-2019) (4 marks) Provision for depreciation account (2016-2019) (4 marks) Disposal account for 2018 (2 marks) Statement of profit or loss extract for 2018 and 2019 (1 mark) Statement of financial position extract for 2018 and 2019 (1 mark)