Required: You are employed as the junior accountant at Linksfield Wholesalers, a registered VAT vendor. The

current financial year end of the business is $31$ December $2024.$ You have extracted the following

information relating to one of the business's assets below:

Vehicles are depreciated at $25\%$ pa on the diminishing balance method.

The above passenger vehicle was sold on $31$ October $2024$ for R$202400$ inclusive of VAT.

Management of Linksfield Wholesalers decided to replace the passenger vehicle with a delivery

vehicle and purchased a new Isuzu van on $1$ December $2024$ for R$253000$ inclusive of VAT. Linksfield

Wholesalers paid cash for the new vehicle.

The following balances were extracted from the trial balance as at $31$ December $2023$:

Vehicles: R$755000$

Accumulated depreciation: Vehicles R$405000$

Note: Show all your workings.

Q$\mathrm{.}2\mathrm{.}1$ Calculate the net carrying value of the passenger vehicle at the time of sale $-$

$31$ October $2024.$

Set out your workings in table format as below and state the net carrying value

clearly at the end: