Hogwarts Traders: Vehicle 1

Date

Purchased:

1 May 2015Date Current

depreciation

Accumulated

depreciation

Make and

reg.:

Toyota Hilux

2014 (FG765GP)

31 Dec

2015

21 333.33 21 333.33

Purchased

from:

Benji's Car Sales

(Credit)

31 Dec

2016

29 866.67 51 200.00

Cost Price: 320 000.00 31 Dec

2017

26 880.00 78 080.00

Rate of

Depreciation:

10% according

to reducing

balance

method.

31 Dec

2018

24 192.00 102 272.00

Sold to:V. Limited. 31 Dec

2019

? ?

Type of Sale: Cash

Date sold: 1 July 2019

Selling Price: 250 000.00

Hogwarts Traders: Vehicle 2

Date

Purchased:

1 August 2019Date Current

depreciation

Accumulated

depreciation

Make and

reg.:

Hyundai Atos

2019 (ZV109GP)

31 Dec

2019

? ?

Purchased

from:

Hyundai

Auto(Cash)

Cost Price: R150 000

Rate of

Depreciation:

15% according

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 (3)

Accumulated depreciation: Vehicles (9)

Depreciation (2)

Asset Disposal (4)

Profit/Loss on sale of vehicles. (1)

Show all your workings.