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Calculate the profit or loss on disposal. Example 5.7 In January 2014, Phillips sold a machine for 3,000 cash. The machine had cost 18,000 some years ago. The accumulated depreciation relating to the machine amounted to f16.500. equired repare the machinery disposal account and related accounts to record the sale of the machine. nter the general journal for the above transactions. xercise 5.1 (a) Company A has invested in a piece of machinery, for which it has paid 150,000. It expects the machinery to have a useful life of 5 years. Using the straight- should be charged each year if: (i) The machinery is expected to have no residual value (ii) The machinery is expected to have a residual value of 30,000, line method of calculating depreciation, calculate how much depreciation (b) For the same investment above, calculate the depreciation to be deducted the reducing balance method of calculation, assuming that the com annual depreciation at the rate of 35% of the written down va lue Exercise 5.2