On 1 April 2015, Hayward Co. purchases 100 ordinary shares of Sonoma Company at a market price of 100 per share. Due to a legal requirement, Hayward does not intend to actively trade this investment. It consequently classifies the Sonoma investment as a non-trading equity investment. Hayward records this investment as follows.

3:39 Notes Done On 1 July 2019, Sherry's acquired machinery at a cost of $200,000. Estimated residual value is $50,000. Straight line depreciation is used. Expected useful life is 5 years. The machinery was sold on 1 July 2021 for $100,000. Required: 1. Calculate the accumulated depreciation, journal entries for 1 July 2021 required. (3 mark) 2. Prepare the journal entries to record the disposal of the machinery. Include narrations. (6 marks) 3. Calculate the gain or loss on disposal of + machinery (4 marks) and the from qwertyuiop a S d f g h i k 1 cvbnm > Z N x X 3 123 9 space return