COCA COLA TRADERS

Notes to the financial statements for the financial year ended 30 June 2020 Property, plant and equipment

	Vehicles
Carrying amount: Beginning of the year	84 800
Cost	172 000
Accumulated depreciation	(87 200)
Additions	58 000
Depreciation	(12 240)
Disposals	?
Cost	21 600
Accumulated depreciation	?
Carrying amount: End of the year
Cost
Accumulated depreciation

Additional information

1. The vehicle that was sold was an old Jeep bakkie that was bought on 1 January 2017 for R21 600. On 31 March 2020 the Jeep was sold for R5 000 cash.

2. Vehicles are depreciated at 20% per annum on the straight line method.

The profit/loss on the sale of the Jeep bakkie will be?

1. Profit on sale of vehicle of R9 040
2. Profit on sale of vehicle of R21 500
3. Loss on sale of vehicle of R2 560
4. No profit or loss on sale of vehicle
5. Profit on sale of vehicle of R16 600