On 1st January 20X1, WWW Limited (WWW) purchased new machinery for $210560. WWW paid some directly attributable cost to bring this machinery into working condition. In particular, WWW paid the freight cost of $3580 and the installation cost of $4843. This machine is expected to have a useful life of ten years with a residual value of $2106. The pattern of economic benefits from using this machinery is constant. Therefore, it is decided that the straight-line depreciation method will be used. Ignore GST. Required: a) Determine the cost of the machine (4 marks) ANSWIE. b) Assuming that year ends on 30 June, record the journal entry of depreciation expenses on 30 June 203 ( 3 marks) ANSWER: c) Calculate the accumulated depreciation balance at the end of the fourth year ( 3 marks)