QUESTION 4 22 MARKS The following balances appear amongst others in the books of Matsemola Traders on the 28 February 2014, the last day of the previous year: Equipment at cost 000 Accumulated depreciation 000 R234, R118, On the 1st August 2014, Mr Matsemola sold one of their pieces of equipment with a cost price of R67, 500 and accumulated depreciation of R91, 460. The equipment was sold for R37, 800 cash. The financial year of the business runs from 1 March to 28 February every year. REQUIRED (a) Draw up the T-accounts to show how the transaction above will influence the books of Matsemola Traders. (b) Indicate the profit or loss on sale of the equipment. (c) Balance all the affected accounts after the sale of the equipment Total Marks: 75 Best wishes Page 5 of 5