The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year...

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The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7) The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7) The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7) The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7) The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7) The following information has been taken from the books of Flirty Traders. Flirty Traders' financial year ends on 29 February and they are not a registered VAT Vendor. The following balances, amongst others, appeared in the Trial Balance on 29 Febuary 2020: Favourable bank R58 700 R550 000 Vehicles 1 March 2019 Accumulated depreciation on vehicles (1 March 2019) R225 000 The following transactions have not yet been recorded in the books of Flirty Traders: On 1 September 2019 a vehicle with an original purchase price of R290 000 and an accumulated depreciation of R145 000 as at 1 March 2019, was sold for R100 000. A new vehicle was purchased on the same day for R300 000 for cash to replace the other vehicle. Flirty Traders depreciates their vehicles at 25% per annum according to the straight-line method. Required: Prepare the following general ledger accounts for the year ending 29 February 2020. Show all workings. Q.3.1 Vehicles You are not required to balance/close off this account. Q.3.2 Accumulated depreciation on vehicles You are not required to balance/close off this account. Q.3.3 Depreciation You are not required to balance/close off this account. Q.3.4 Asset disposal Properly balance or close off this account. (5) (10) (3) (7) Q.3.1 Q.3.2 Date Details Date Details Fol. Amount Vehicles Date Details Accumulated depreciation Vehicles Fol. Amount Date Details Fol. Amount Fol. Amount (5) (10) Q.3.3 Date Details Fol. Amount Depreciation Date Details Fol. Amount (3) Q.3.4 Date Details Fol. Amount Asset disposal Date Details Fol. Amount (7)

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