Aladdir's Carpets (Piy) Ltd is a company that manufactures carpets and home decorrralated products nuch as curtains and blankots. The cormpany unes various industrial: mochinery reguired to manufacture the productis. [ The following transactions relating to Machinery occurred during the financial year anded June 2022: 1)* A new machine (Machine A) was purchased from an overseas supplier and paid for on 1 January 2022. The machine was purchased FOB destination point for (13000)=R,20 USD. The destination point was Aladdin's Carpets (Pty) Ltd's city's seaport. The machinery arrived at Aladdin's Carpets (Pty) Ltd's city's seaport on 15 January 2022. Transportation costs relating to the delivery of this new machinery from the seaport to Aladdin's Carpets (Pty) Ltd's premises cost R9 000 and were paid in cash on the same day (15 January) after it arrived at their premises. The following were exchange rates existed on the various dates: 2). Machine A was installed in a workstation at Aladdin's Carpets (Pty) Ltd's factory on 1 February 2022 at a cost of R8 100 in cash after which it became avallable to use for making rugs. R207900+88100216000101123=854000 =R216000D210000107122=R361 3) - On 31 March 2022, existing outdated machinery (Machine B) was sold for R40 000. The machinery was originally purchased on 1 January 2018 at a cost of R74 000 . - On 1 May 2022, management decided that in order to be more profitable, the machinery purchased on 1 January 2022 i.e. Machine A would be used to create only ANNEXURE FI FORMATIV ASSESSMENT 1 tufted design carpets which have a higher selling price. In order to give carpets a tufted look, Machine A had to be modified by adding an additional part to the existing machinery. This existing part was locally purchased for R45 000 in cash on 1 May; 2022 and attached to the machinery. The modified parts are expected to have the same usefud life as the remaining useful life of the machinery. 5) - There were no other additions or disposals of machinery during the financial year. 6) * Machinery (Machine C) with a camying value of R223 000 at the end of the financial year (after all depreciation was taken into account for the financial year) was considered to be redundant and can only be used to make cheap, unpopular products. The value in use of this specific machinery was R198000 and the fair value less cost to sell of the machinery is R201 500. 7). Additional information: All Machines are depreciated at 10\% p.a. on a straight-line basis. All machines are considered to have a residual value of zero Rand. Management has elected to account for all machines at the cost model. REQUIRED: 1.1 Prepare the following General Ledger Accounts of Aladdin's Carpets (Pty) Ltd for the financial year ended 30 June 2022. Include all dates and close off the accounts at the end of the financial year. VAT may be ignored. Clearly show all workings. - Machinery and - Accumulated depreciation: Machinery (31 marks) 1.2 Prepare the General Joumal entry required at the end of the financial year to account for the redundant machinery (Machine C). Dates and narrations are not required. (4 marks)