Question 4 The following information is available for RSK Ltd for the year ended 31 December 2020: Motor vehicles at cost on 1 January 2020 32,900 Accumulated depreciation on motor vehicles at 1 January 2020 7,870 On 1 July 2020 a motor vehicle which had originally cost 11,000 and with accumulated depreciation of 7,230 as at 1 January 2020 was crashed. 3,120 was received from the insurance company and 700 was received from the sale of the motor vehicle as scrap. RSK Ltd charges depreciation at 10% straight line basis on a proportional basis from the time of purchase to the time of disposal. Required: With reference to IAS 16, Property Plant and Equipment, prepare the following ledger accounts for RSK Ltd, as at 31 December 2020. a) Motor Vehicles Cost Account b) Motor Vehicles Accumulated Depreciation Account c) Motor Vehicles Disposal Account [3 marks] [11 marks] [6 marks] [Total 20 marks]