Please complete the following Tangible Asset Note (only for machinery) as it would have appeared in the Statement of Financial Position as at 30 June 2018. Please also complete the calculation blocks below to show your workings.

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The information below refers to Hammond Huts. Hammond Huts manufactures canvas tents used for camping. Their financial year ends on 30 June. Two machinists are used in the factory to sew the tents. They are both paid the same salary. Machinery: Machinery consists of sewing machines used for the production of canvas tents. One machine was sold for cash on 1 November 2017 at its carrying value. This machine was originally bought for R120 000 on 1 July 2015. Depreciation on machinery is calculated at 15% p.a. on the diminishing balance method and no new machinery was bought during the year. The following balances were found in the stock accounts: 30 June 2018 30 June 2017 R 17 200 ? Indirect materials stock Work-in-progress stock Finished goods Accumulated depreciation on vehicles R 14 500 220 000 54 000 420 000 32 000 ? Additional information: All the machinery is in the factory. All the vehicles are used for selling and distribution. Indirect materials costing R20 700 were bought during the year. Indirect materials used during the year were in the ratio of 4:5 between the factory and selling and distribution. Hammond Huts' insurance expense for their vehicles for the year ending 30 June 2018 was R25 000. On 1 April 2018 they decided to start insuring their factory machinery. On this date, they paid an annual insurance policy on their machinery for R4 680. 400 tents were produced in the year. Prime costs were calculated at R860 per tent. Cost of sales amounted to R504 000 for the year ended 30 June 2018. Machinery depreciation calculations Depreciation of old machinery sold Depreciation of machinery not sold Total depreciation for year Accumulated depreciation at end of year Machinery 550 000 ? (270 000) Carrying value on 1 July 2017 Cost Accumulated depreciation MOVEMENTS Additions Disposals Depreciation Carrying value on 30 June 2018 Cost Accumulated depreciation