Part B - practical items Question 3 Using the information provided for AAA Solutions, apply accounting principles and processes to a. calculate depreciation using the diminishing balance method. Complete the tables on page 5 for both delivery vehicles. Show all additional calculations in the space provided on page 5 b. record transactions, including closing entries, from 1 July 2017 to 30 June 2019 in the accounts provided in the general ledger (extract) on pages 6-7 c. report account balances relating to the non-current assets in the two Statements of Financial Position (extract) as at 30 June 2018 and 30 June 2019 on page 7. All delivery vehicles are depreciated at 35% per annum. The following transactions occurred relating to two delivery vehicles: 1 July 2017 1 July 2018 30 December 2018 Purchased a Volkswagen on credit for $99 000 (GST inclusive) from Vehicles Galore. The estimated life of the delivery vehicle is five years and the residual value is estimated at $10 000. Registration was paid by Vehicles Galore for the first 12 months. Paid registration of $800 (No GST) for 12 months to the Department of Transport and Main Roads. Purchased a Ford Transit on credit for $54 120 (GST inclusive) from Car Sales Ltd. The estimated life of the delivery vehicle is five years and the residual value is estimated at $6 000. Paid registration of $1 200 (No GST) for six months to the Department of Transport and Main Roads. Paid Super Suspension for the installation of a custom-made suspension unit in the Ford Transit costing $3 520 (GST inclusive) 30 December 2018 1 January 2019 Queensland Curriculum & Assessment Authority Accounting 2019 v2.0 IA1 samplesment instrument July 2018 Page 4 of 18 Part B - practical items Question 3 Using the information provided for AAA Solutions, apply accounting principles and processes to a. calculate depreciation using the diminishing balance method. Complete the tables on page 5 for both delivery vehicles. Show all additional calculations in the space provided on page 5 b. record transactions, including closing entries, from 1 July 2017 to 30 June 2019 in the accounts provided in the general ledger (extract) on pages 6-7 c. report account balances relating to the non-current assets in the two Statements of Financial Position (extract) as at 30 June 2018 and 30 June 2019 on page 7. All delivery vehicles are depreciated at 35% per annum. The following transactions occurred relating to two delivery vehicles: 1 July 2017 1 July 2018 30 December 2018 Purchased a Volkswagen on credit for $99 000 (GST inclusive) from Vehicles Galore. The estimated life of the delivery vehicle is five years and the residual value is estimated at $10 000. Registration was paid by Vehicles Galore for the first 12 months. Paid registration of $800 (No GST) for 12 months to the Department of Transport and Main Roads. Purchased a Ford Transit on credit for $54 120 (GST inclusive) from Car Sales Ltd. The estimated life of the delivery vehicle is five years and the residual value is estimated at $6 000. Paid registration of $1 200 (No GST) for six months to the Department of Transport and Main Roads. Paid Super Suspension for the installation of a custom-made suspension unit in the Ford Transit costing $3 520 (GST inclusive) 30 December 2018 1 January 2019 Queensland Curriculum & Assessment Authority Accounting 2019 v2.0 IA1 samplesment instrument July 2018 Page 4 of 18