QUESTION $1(10$ Marks$)$

Use the information provided below to answer the following questions:

$1\mathrm{.}1$ Prepare the Asset Disposal account in the general ledger of Popcon $($Pty$)$ Ltd$.$ The account must be closed off. $(6$ Marks$)$

$1\mathrm{.}2$ Calculate the depreciation for the financial year ended $28$ February $2022$ on the vehicle that was sold. $(2$ Marks$)$

$1\mathrm{.}3$ Calculate the depreciation for the financial year ended $28$ February $2023$ on the vehicle that was purchased on $01$ September $2022.(2$ Marks$)$

INFORMATION

On $01$ March $2022$ the following balances, amongst others, appeared in the books of Popcon $($Pty$)$ Ltd:

$\backslash$table$[[$Vehicles $($at cost$),$R$660000],[$Accumulated depreciation on vehicles,R$440000]]$

On $01$ March $2022$ a vehicle $($which was estimated to have a useful life of six years$)$ that originally cost R$240000$ was sold on credit for R$90000.$

The accumulated depreciation on this vehicle amounted to R$160000$ on $01$ March $2022.$ Depreciation is calculated on vehicles using the straight$-$line method. The financial year ended on $28$ February $2023.$

On $01$ September $2022$ a new vehicle $($with a useful life of six years$)$ was purchased for

R$300000$ cash.