The following information pertains to plant and machinery of Alpha Enterprises (AE):

1. As at 1 January 2018, balances of cost and accumulated depreciation amounted to GH12,700,000 and GH6,240,000 respectively.
2. On 1 April 2018, an old machine having fair value of GH340,000 was exchanged for a new machine. The balance of the purchase price was paid through a cheque of GH680,000. The list price of the new machine was GH1,130,000. The old machine had been acquired for GH870,000 on 1 September 2015.
3. On 1 February 2018, a plant having a list price of GH10,000,000 was acquired. A trade discount of 5% was allowed on the list price. The plant was ready for use on 1 August 2018 after incurring the following costs:

GH '000

Freight charges 660

Consultant fees 540

Installation and testing 600

Administration and other general overheads 160

Staff training 120

Opening ceremony 100

2,180

4. On 31 October 2018, another machine was sold for GH334,000. It was acquired on 1 January 2015 and had a net book value of GH512,000 on 1 January 2018. A cost of GH25,000 was incurred on its disposal.
5. AE depreciates plant and machinery at 20% per annum using the reducing balance method.

Required:

In accordance with IAS 16, prepare the following ledger accounts pertaining to the plant and machinery for the year ended 31 December 2018:

1. Cost
2. Accumulated depreciation
3. Assets disposal
4. Show amounts to be reported in the income statement and the statement of financial position as at 31 December 2018.