QUESTION 3 All & Sundry Ltd commenced business on June 1, 2019. The business' financial year ends on May 31st. The policy of the business is to depreciate all non-current assets according to the months of ownership, using the Reducing Balance Method at a rate of 20% per annum. The following information was provided relating to its non-current assets register over the first two financial years: 2019 August 1 2019 October 1 2020 Nov 30 2021 Feb 28 2021 March 1 I Bought a machine for $45,000 by cheque. Bought an additional machine for $30,000, paying in cash. All & Sundry Ltd traded the machine that was acquired in October 2019 for a newer model. The newer model cost $36,000 and a trade-in allowance of $18,700 was agreed upon. All & Sundry Ltd settled the balance due by cheque. Sold the machine that was originally purchased on August 1, 2019 for $34,130 cash. Purchased a machine for $55,000 by debit card. Required: Prepare the following for All & Sundry Ltd to reflect the two-year period: (i) Machinery Account (ii) Accumulated Depreciation - Machinery Account (iii) Disposal Accounts (separate account for each disposal) (iv) Income Statement extracts (4 marks) (16 marks) (5 marks) (2 marks)