QUESTION 3 The agreement of the trial balance totals is an indication that all transactions have been properly recorded in the books of accounts. Do you agree with this statement? Required: Outline 4 reasons to justify your response. (8 marks) ABC Ltd started business on 1/1/14, and its financial year ends on 31 December each year. The following information was extracted from the company's asset register. DATE TRANSACTION AMOUNT (GHS) 2016 January, 1 Purchased one motor van 58,500 2016 September, 1 Purchased two motor vans 78,000 each 2018 March, 1 Purchased one motor van 45,200 2018 May, 2 Sold the motor van purchased 18,240 in January 2016 2019 April 1 Purchased three motor vans 62.00 each Additional Information The company's policy is to depreciate Motor vehicles at a rate of 20% per annum on cost, You are required to prepare: i) The Motor vehicles account (2016-2019) (4 marks) Provision for depreciation account (2016-2019) (4 marks) iii) Disposal account for 2018 (2 marks) iv) Statement of profit or loss extract for 2018 and 2019 (1 mark) v) Statement of financial position extract for 2018 and 2019 (1 mark) (Total 20 marks)