Question 1 A company starts in business on 1 January 20X3, the financial year end being 31 December. You are required to show: (a) The Machinery account. (b) The Provision for Depreciation account. (c) The Balance Sheet extracts for each of the years from 2013 to 2016. The machinery bought was: 2013 1 January 2014 1 July 1 October 2016 1 April Machine A costing $4,800 Machine B & C costing $3,000 each Machine D costing $11,000 with a residual value of $1,000 Machine E costing $7,200 It is the company's accounting policy to depreciate the machine over ten years, using the straight line method, machines being depreciated for the proportion of the year that they are owned. You can also assume unless otherwise stated, the machine has zero residual value. Question 2 Continue with Question 1, machine B was completely scrapped in an industrial accident on June 30, 2018 and the company decided to write off the machine in their books of account. Machine A was sold at a value of $1,000 on October 1, 2018. You are required to show: (a) The Machinery account. (b) The Provision for Depreciation account. (c) Disposal Account for Machine A and B respectively. (d) The Balance Sheet extracts for each of the years from 2017 to 2018.