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Question 1 A retail store had the following transactions for its Motor Vehicle:...

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Accounting

Question 1
A retail store had the following transactions for its Motor Vehicle: 2019
Jan 1 Purchased Motor Vehicle costing $20000
Jun 30 Purchased Motor Vehicle costing $40000
2021
Jan 5 Purchased Motor Vehicle costing $30000
Dec 31 Sold motor vehicle costing $20000 for $6000
NB. A full year's depreciation is charged on all assets on the books at December 31 each year. Depreciation is calculated at 15% using the Straight Line method.
Required:
A. Motor Vehicle Account for the 3 years
B. Accumulated Provision for Depreciation account
C. Disposal Account
D. Profit & Loss Accounts and Statement of Financial Position (Balance Sheet) Extracts
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