The financial year-end of Erindiroukambe Stevovo Dealers is 31 December. Vehicles are depreciated 20 percent per annum u

[answerhappygod]

The financial year-end of Erindiroukambe Stevovo Dealers is 31
December.
Vehicles are depreciated 20 percent per annum using the reducing
balance method. Depreciation
is calculated on each month of ownership, both in the year of
purchase and sale.
The following information relates to the purchase and sale of
vehicles from 1 January 2010 to 31
December 2012.
• Bought a vehicle on 1 January 2010 for N$60 000 by cheque.
• Bought a vehicle on 1 July 2010 for N$80 000 on credit from Audi
Centre.
• Purchased a vehicle on 1 October 2011 for N$100 000 by
cheque
.• Sold the vehicle bought on 1 January 2010 for N$40 000 by
cheque on 30 September 2012.
a) Prepare the following accounts for the three years 1 January
2010 to 31 December 2012.
i) Vehicles Account
ii)Provision for depreciation on vehicles account
iii)Vehicle disposal account