Question 2 Rainbow Berhad, was formed on 1 January 2019 and the following purchases of machinery were made during the first three years of operations: Date 1 January 2019 1 October 2019 1 July 2021 Asset Machines 1 and 2 Machines 3 and 4 Machine 5 Price RM40,000 each RM15,200 each RM20,000 Additional information: Depreciation is over 10 years. Depreciation was charged using straight line method, machines being depreciated for the proportion of the year they are owned. Required: (a) Calculate the depreciation at the end of each year of 2019, 2020 and 2021 for machines. (Present your working for each machine) (14 marks) (b) Briefly explain on the depreciation charged if Rainbow Berhad changed the depreciation method to 30% by the reducing balance method. (note: no calculation is required). (5 marks) (c) Briefly explain how depreciation reflects Going concern and Consistency concepts (6 marks) (Total: 25 marks)