A company maintains its fixed assets at cost. Depreciation provision accounts for each asset are kept.

At 31 December 19X8 the position was as follows:

Total cost Total depreciation to date to date Machinery 52,590 25,670 Office Furniture 2,860 1,490 The following additions were made during the financial year ended 31 December 19X9:

Machinery £2,480, office furniture £320 Some old machines bought in 19X5 for £2,800 were sold for £800 during the year The rates of depreciation are:

Machinery 10 per cent, office furniture 5 per cent, using the straight line basis, calculated on the assets in existence at the end of each financial year irrespective of date of purchase.

You are required to show the asset and depreciation accounts for the year ended 31 December 19X9 and the balance sheet entries at that date.