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{"ops":[{"insert":"QUESTION ONE (THIRTY MARKS)\na) The following information relates to the Motor Vehicle account of Ayieye & Associates:\nAsset Date\u00a0\npurchased\u00a0\nAmount\u00a0\n(Kes)\nEstimated\u00a0\nUseful life\nResidual\u00a0\nValue (Kes)\nDate of\u00a0\ndisposal\nProceeds from\u00a0\nDisposal (Kes)\nKAA 111A 01:04:2015 775,000 5 years 380,000 01:07:2018 450,000\nKBB 222B 01:10:2016 900,000 5 years 550,000\nKCC 333C 01:01:2018 1,500,000 5 years 900,000\nAdditional information:\ni) The company uses the straight line method in providing for depreciation and its policy is\u00a0\nto charge a full year\u2019s depreciation on its assets in the year of purchase and not in the\u00a0\nyear of disposal.\nii) The financial year end of the company is to 31st December\nRequired:\ni) Determine the profit or loss on the disposal of KAA 111A (2 marks)\nii) Prepare the Provision for depreciation accounts for the years 2015 \u2013 2018 (6 marks)\niii) Show the Motor vehicle account For the years 2015 \u2013 2018 (5 marks)\niv) Show the Motor vehicle disposals account for the year 2018 (2 marks)\u0000\n"}]}

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