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Information of Makuwa Traders on 31 July 2016: VehiclesR844 000 Accumulated depreciation: VehiclesR328 000 On 31 March 2017 a used vehicle is traded in at
Information of Makuwa Traders on 31 July 2016: VehiclesR844 000 Accumulated depreciation: VehiclesR328 000 On 31 March 2017 a used vehicle is traded in at Tau Motors on the purchase of a new vehicle. The purchase price of the new vehicle is R415 000. The trade-in price given by Tau Motors for the used vehicle is R94 200. The details of the used vehicle is recorded in the asset register below: ASSET REGISTER DESCRIPTION: Delivery vehicle REGISTRATION NO: FG79SDGP DATE PURCHASED: 1 September 2013 COST PRICE: R208 000 % DEPRECIATION: 30% per annum - reducing balance method DATE SOLD: 31 March 2017 REQUIRED: Journalise the above transactions and post them to the "Asset disposal" account in the General Ledger of Makuwa Traders. (Round off all your calculations to the nearest rand)
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