Access Inc. is in operation from last 8 years, and have a balance of $640,000 in the machinery account as at Jan 01, 2000. On August 01, 2000, the Company made additions to the machinery a/c of $98,000. The machinery is expected to produce a total of 200,000 units. The machinery was used in the production in the following manner: Year Production 2000 13,400 2001 34,200 2002 38,400 2003 39,100 2004 31,900 2005 28,060 2006 14,940 There was another addition to the machineries for $126,000 on Jan 01, 2002. The useful life of the asset is 9 years and it can realize $13,400 at the end of 9 years. On Jan 01, 2006, the company reassessed the useful life of this machiney to be 11 years, while the salvage value remained the same. On Oct 01, 2005, the company bought an equipemt, which was expected to be used a total of 46,000 machine hours (MH) The equipment was used as per the below mentioned schedule: 2005 1,730 $ UNIVERSITY CANADA WEST ACCT621 ACOUNTING FOR MANAGERS 2006 4,200 $ 2007 3,100 $ 2008 4,600 $ 2009 5,900 $ 2010 7,070 $ At the end of 2010, the company assessed that its original estimation was wrong and the equipment is expected to work only 12,000 more machine hours. During 2011, the equipment was used for 4,800MH, 2012 5,300MH, and rest of the hours were used in 2013. Prepared a schedule of the machinery and equipment account together. Show your working notes properly. Hint: For presentation purpose, you can give numbering to the machines