Question $1$ of $110$ Points

What follows is a calculated question with $10$ blanks.

Ignore VAT

A business measures vehicles using the cost model. Vehicles are depreciated using the diminishing balance method at a rate of $30\%$ p$.$a$.$ over $3$ years, using a residual value of $34\mathrm{.}3\%$ of cost$.$

On $1$ August $2023,$ the business had two vehicles, which had been purchased on $1$ August $2022$ for R$170000$ each.

On $1$ February $2024,$ one of these vehicles was sold for cash of R$132000.$ On the same day, a new vehicle was purchased at a cost of R$245000.$

No vehicles have been impaired.

Required:

$1.$ The profit on sale of the vehicle on $1$ February $2024$ was R Blank $1.$ Calculate the answer by read surrounding text.

$.$

$2.$ Fill in all the blanks in the PPE Reconciliation Note for the year ended $31$ July $2024$:

Vehicles

Gross carrying amount, $1/8/2023$ R Blank $2.$ Calculate the answer by read surrounding text.

Accumulated depreciation, $1/8/2023($R Blank $3.$ Calculate the answer by read surrounding text.

$)$

Carrying amount, $1/8/2023$ R Blank $4.$ Calculate the answer by read surrounding text.

Additions R Blank $5.$ Calculate the answer by read surrounding text.

Disposals $($R Blank $6.$ Calculate the answer by read surrounding text.

$)$

Depreciation $($R Blank $7.$ Calculate the answer by read surrounding text.

$)$

Carrying amount, $31/7/24$ R Blank $8.$ Calculate the answer by read surrounding text.

Gross carrying amount, $31/7/24$ R Blank $9.$ Calculate the answer by read surrounding text.

Accumulated depreciation, $31/7/24($R Blank $10.$ Calculate the answer by read surrounding text.

$)$