Example 1 CR Trial Balance as at 1 Jan 2019 DR Motor vehicle 130,000 Machinery 84,000 Accumulated depr -Motor vehicle -Machinery 47,000 21,000 MV is depreciated at 10 % per annum on cost and Machinery at 15 % per annum on book value. Journal entry to record depreciation Prepare the IS and BS extract at 31 Dec 2019