EsTION 10(LCCL/3/08) - extrect and the purchase price of the replacement vehicle was $42.000, the bolance being paid by cheque, REQUIRED: Prepare the following accounts, for each of the years ended 31 Deceraber 2005, 2006 and 2007: (a) Motor Vehicles Account (b) Accumulated Depreciation of Motor Vehicles Account (c) Depreciation of Motor Vehieles Account (d) Disposal of Motor Vehicle Account QUESTION 11 (LCCL/2/09) - extract Sam Bell commenced his business on 1 January 2005. On that date, he purchased a motor vehicle by cheque for $15,000. He decided to depreciate this asset at the rate of 20% per annum, using the reducing balance method. REQUIRED: (c) Prepare the Accumulated Depreciation of Motor Vehicle Account for the years ended 31 December 2005, 2006, 2007 and 2008. Bring down the balances at the end of each financial year. (d) State one method of depreciation apart from the reducing balance method, (e) Copy the sentence below in your onswer book and write in the missing words: The charge for depreciation is posted to the side of the Depreciation Expense Account and the side of the Accumulated Depreciation Account