Question 4 The following information is available for RSK Ltd for the year ended 31 December 2020: Motor vehicles at cost on 1 January 2020 Accumulated depreciation on motor vehicles at 1 January 2020 32,900 7,870 On 1 July 2020 a motor vehicle which had originally cost 11,000 and with accumulated depreciation of 7,230 as at 1 January 2020 was crashed. 3,120 was received from the insurance company and 700 was received from the sale of the motor vehicle as scrap. RSK Ltd charges depreciation at 10% straight line basis on a proportional basis from the time of purchase to the time of disposal. Required: With reference to IAS 16, Property Plant and Equipment, prepare the following ledger accounts for RSK Ltd, as at 31 December 2020. a) Motor Vehicles Cost Account [3 marks] b) Motor Vehicles Accumulated Depreciation Account [11 marks] c) Motor Vehicles Disposal Account [6 marks] [Total 20 marks]