QUESTION 2 DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT (20 MARKS) REQUIRED 2.1 Answer the following question from the information provided below. 2.1.1 Name two other ways of disposing of the vehicle, apart from selling it. (2) 2.2 Calculate the following from the information given below. All relevant calculations must be shown. 2.2.1 Carrying value of the vehicles on 01 March 2014. (3) 2.2.2 Depreciation for the current financial year on the vehicle that was sold. (3) 2.2.3 Profit or loss on the disposal of the vehicle. (5) 2.2.4 Depreciation for the current financial year on the new vehicle acquired. (3) 2.2.5 Cost price of vehicles on 28 February 2015. (4) INFORMATION Rossel Enterprises owns a fleet of motor vehicles. The following balances appeared in the general ledger on 01 March 2014, the beginning of the financial year: Vehicles at cost Accumulated depreciation on vehicles R800 000 R350 000 On 31 August 2014 a vehicle that cost R200 000 was sold for R39 000. The accumulated depreciation on this vehicle was R160 000 on 01 March 2014. On 01 September 2014 a new vehicle was purchased for R250 000. Deprecation is provided for on vehicles at 20% per annum using the diminishing balance method.