D Burrendong purchased the following assets for cash on 1 December 2021: i machinery for $17 270

Question:

D Burrendong purchased the following assets for cash on 1 December 2021:

i machinery for $17 270 ($15 700 + $1570 GST) to be depreciated at 30% p.a. diminishing balance method ii office equipment for $9900 ($9000 + $900 GST) to be depreciated at 10% p.a. straight line method.

Prepare:

a a time line to 30 June 2023 b depreciation worksheets to 30 June 2026 c the balance day adjustment journal for depreciation for 30 June 2022 d extract general ledger accounts relevant to the question to 30 June 2024 e an extract income statement for the year ended 30 June 2024 f an extract balance sheet as at 30 June 2025.

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