QUESTION 2 Honeycomb enterprise is into the making of delicious sweets. At 1 July 2017 the following information was extracted from the books. Bal b/f Cost Provision for Depreciation Depreciation Policy Machinery (M1) 18,500 25,000 10% straight line on cost 15,400 Equipment (E1 & E2) 8,600 12.5% straight line on cost Motor vehicle (MV1) 6,500 18,500 15% reducing balance During the financial year ended 30 June 2018 the following transactions took place. Purchases 1 April 2018 (M2) 1 January 2018 (E3) 10,800 6,800 Depreciation for new assets commences in the month of acquisition. Disposals Purchase Date Original Cost Disposal Date Sale Proceeds Equipment (E2) 01/01/2015 7,200 31/03/2018 6,400 Required: For Honeycomb Enterprise, prepare the following ledger accounts for the year ended 30 June 2018. i) Machinery account, Equipment account & Motor Vehicle account ii) Provision for Depreciation of Machinery iii) Provision for Depreciation of Equipment iv) Provision for Depreciation of Motor Vehicle v) Disposal of Equipment vi) Financial statement extracts vii) Property Plant and Equipment Schedule