required :

1 what is accouting treatment of cost of transit insurance? Determine the cost of machine.

2. calculate annual depreciation.

3. calculate balance of accumulated depreciation at the end of 7th year.

(7 marks) Question 4 The table below presents the data related to the purchase of a machine by Burleigh Waters limited. Note. This machine was purchased on 1 July 2011. The year ends on 30 June. The company decided to use the straight-line method of depreciation since it is expected that the pattern of economic benefits flow towards the entity remains constant during this machine's useful life of ten years. Further, it is expected that the residual value of this machine will be \$2857. Ignore GST