The business purchased on credit:

a a new car for a sales representative on 1 February 2022 $36 300 ($33 000 + $3300 GST) with a depreciation rate of 20% p.a. and a residual value of $3300 ($3000 + $300 GST), and b a new truck for deliveries to customers on 31 March 2022 for $55 000 ($50 000 + $5000 GST) with nil residual value and a depreciation rate at 15% p.a.

Balance date is 30 June and straight line depreciation applies to both. Prepare:

i a time line for the two assets to 30 June 2024, then allocate both to the motor vehicles account ii depreciation worksheets for each motor vehicle to 30 June 2024, and iii the balance day depreciation journals for 30 June 2022 and 2023.