Chapter 21 Depreciation 21.16A A company maintains its non-current assets at cost. An accumulated provision for deprecia- tion account is used for each type of asset. Machinery is to be depreciated at the rate of 15 per cent Depreciation is to be calculated on assets in existence at the end of each year, giving a full year's per annum, and fixtures at the rate of 5 per cent per annum, using the reducing balance method. depreciation even though the asset was bought part of the way through the year. The following transactions in assets have taken place: 2019 1 January 1 July 2020 1 October 1 December Bought machinery 2,800, fixtures 290 Bought fixtures 620 Bought machinery 3,500 Bought fixtures 130 The financial year end of the business is 31 December. You are to show: (a) The machinery account. (b) The fixtures account. (c) The two separate accumulated provision for depreciation accounts. (d) The non-current assets section of the balance sheet at the end of each year, for the years ended 31 December 2019 and 2020.