The plant of D Nepean was depreciated using the straight line method at 15% p.a. with no residual value.

On 30 June 2022, an extract of accounts showed plant $45 000 and accumulated depreciation – plant

$27 000. Complete the relevant ledger accounts for each of the various autonomous events listed below, including the gain on disposal or loss on disposal.

a On 1 July 2022, the plant was sold for cash $20 900 ($19 000 + $1900 GST).

b On 31 October 2022, the plant was sold on credit for $17 050 ($15 500 + $1550 GST); include a time line in your solution.

c On 1 February 2023, the plant was decommissioned and used as a trade-in for $18 150 ($16 500 + $1650 GST); include a time line in your solution.

On 10 February, new plant was purchased on credit at a cost (excluding the trade-in) of $82 500 ($75 000

+ $7500 GST). On 1 March 2023 the new plant was installed and commissioned, at an additional cost of $5500

($5000 + $500 GST); payment was made on 31 March. Straight line depreciation method is used at 15% p.a.

and there is no estimated residual value. Show relevant ledger accounts to 30 June 2023, including accounts payable, depreciation and closing entries.