Kaisa Ltd has a stream of assets and the following were extracted from its books:

1st January, 1990.Bought a motor vehicle costing 1,500.

4th April, 1990.Bought plant and machinery costing 4,700

10th October, 1992.Bought motor vehicle costing 2,300.

2nd December, 1992.Bought Plant and machinery costing 8,200

The depreciation policy of the firm is to depreciate all their assets by 15% on month by month basis.

You are required to prepare the following accounts:

i. The assets account

ii. The provision for depreciation accounts.

iii. The profit and loss account extract.

iv. The balance sheet extract.

Assuming the company uses:

The straight line method to depreciate the motor vehicle.

The reducing balance method to depreciate the plant and machinery