ar 1502-22-S1 / WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES / Assessment 3 CK TRADERS AN EXTRACT OF THE PRE-ADJUSTMENT TRIAL BALANCE AS AT 31 OCTOBER 20.9 Capital Drawings Trade receivables control. Trade payable control. Inventory: Trading (1 November 20.8). Bank (Favourable). Petty cash. Cash float Loan from ATM Bank. R 350 000 2 500 180 560 129 875 4 800 15 909 254 2 542 258 564 E Land. Buildings. Machinery (at cost) Accumulated depreciation: Machinery (1 November 20.8). Vehicle (at cost). Accumulated depreciation: Vehicle (1 November 20.8). Fixed deposit: TB Bank. Allowances for credit losses. 60 000 13 722 1 075 308 ? 125 900 12 590 120 782 1 530 Additional information with regards to adjustments that you still need to take into account. (a) CK Traders acquired machinery CK002 on 1 November 20.6 for an amount R1 075 308 and machinery CK002 was only available for use from 1 February 20.7 due to site preparation and installation that needed to be performed. On 31 August 20.9, machinery CK002 was taken out of production and was auctioned on the same day for a cash amount of R455 040. Depreciation on machinery CK002 must be provided at a rate of 20% using the straight-line method. (b) CK Traders has only one vehicle which was purchased on 1 November 20.7 for an amount of R125 900 and the accounting policy indicate that depreciation on vehicles must be provided at a rate of 10% using the reducing balance method. The total accumulated depreciation for machinery CK002 to be transferred to asset realisation account on the date of disposal, will be Select one: A R555 576