Show how you find the depreciation for both.

Sir Francis Blythe is a business operator in Westmoreland. The following data was obtained for the year 2013 : Transactions during the year: i) Equipment with book value of $35,000 was sold for $42,000 ii) New equipment was purchased for $220,000 iii) Motor vehicle with book value of $40,000 was sold for $25,000 iv) New motor vehicle was purchased for $200,000 Required: a) Write up the equipment and motor vehicle accounts for the year, clearly showing the amounts for depreciation b) Write up the equipment and the motor vehicle disposal accounts indicating whether there was a gain or a loss on the sale of each asset Sir Francis Blythe is a business operator in Westmoreland. The following data was obtained for the year 2013 : Transactions during the year: i) Equipment with book value of $35,000 was sold for $42,000 ii) New equipment was purchased for $220,000 iii) Motor vehicle with book value of $40,000 was sold for $25,000 iv) New motor vehicle was purchased for $200,000 Required: a) Write up the equipment and motor vehicle accounts for the year, clearly showing the amounts for depreciation b) Write up the equipment and the motor vehicle disposal accounts indicating whether there was a gain or a loss on the sale of each asset